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Valid from 31/03/2002
For the purposes of section 7, the amount of a person’s net pool betting receipts for an accounting period is—
where—
S is the aggregate of amounts falling due to the person in the accounting period in respect of dutiable pool bets,
E is the aggregate of expenses and profits falling within section 7E(2) that are attributable to the accounting period, and
W is the aggregate of amounts paid by the person in the accounting period by way of winnings on dutiable pool bets (irrespective of when the bets were made or determined).]]
Textual Amendments
F1Cross-heading and ss. 1-5D substituted (6.10.2001 with effect as mentioned in art. 2 of the commencing S.I.) for ss. 1-5 by 2001 c. 9, s. 6, Sch. 1; S.I. 2001/3089, art. 2
F2Ss. 6-8C and preceding cross-heading substituted for ss. 6-8 (24.7.2002 for specified purposes and otherwise retrospective to 31.3.2002 with effect as mentioned in s. 12(3) of the amending Act) by Finance Act 2002 (c. 23), s. 12, Sch. 4 Pt. 1 para. 2