14 Gaming licence duty.E+W+S
(1)A duty of excise shall be charged on gaming licences and, subject to the provisions of Schedule 2 to this Act, the amount of duty on a licence for any period in respect of the premises specified in the licence shall be—
(a)[F1£10]payable on application for the licence, plus
(b)a further sum F2 . . . chargeable at the rates specified in the following Table on the gross gaming yield from the premises in that period.
[F3 TABLE
| Part of gross gaming yield | R ate |
|---|---|
| The first £450,000 | 2½ per cent. |
| The next £2,250,000 | 12½ per cent. |
| The next £2,700,000 | 25 per cent. |
| The remainder | 33⅓ per cent.] |
(2)Subject to subsection (3) below, for the purposes of this section and Schedule 2 to this Act the gross gaming yield from any premises in any period shall consist of—
(a)the receipts in that period from charges made in connection with gaming on the premises by way of any game to which section 13 above for the time being applies, being charges authorised by regulations under section 14(2) of the M1Gaming Act 1968 but exclusive of value added tax and of any charge the payment of which does no more than entitle a person to admission to the premises; and
(b)where a provider of the premises (or a person acting on his behalf) is banker in relation to any such gaming as aforesaid, the difference between—
(i)the value in money or money’s worth of the stakes staked with the banker in such gaming; and
(ii)the value in money or money’s worth of the winnings paid by the banker to those taking part in such gaming otherwise than on behalf of a provider of the premises.
(3)The Treasury may amend subsection (2) above by order.
Textual Amendments
F1Words in s. 14(1)(a) substituted by Finance Act 1991 (c. 31, SIF 12:2), s. 6(2)(a)(9) having effect in relation to gaming licences for any period beginning after 30.9.1991
F2Words in s. 14(1|)(b) repealed by Finance Act 1991 (c. 31, SIF 12:2), ss. 6(2)(b), 123, Sch. 19, Pt. I
F3Table in s. 14(1) substituted by Finance Act 1991 (c. 31, SIF 12:2), s. 6(3)(9) having effect in relation to gaming licences for any period beginning after 30.9.1991
Marginal Citations
M11968 c. 65(12:1).