Part II Gaming Duties
20BF1Carrying losses forward
1
Where the calculation of a person’s bingo promotion profits for an accounting period results in a negative amount (“the loss”)—
a
no bingo duty shall be chargeable in respect of that accounting period, and
b
for the purpose of section 17(3), the amount of the person’s expenditure on bingo winnings for the next accounting period shall be increased by the amount of the loss.
2
Subsection (1) applies to an accounting period whether or not the loss results wholly or partly from the previous application of that subsection.