Part I Betting Duties
Pool betting duty
7AF2F1 Calculating net pool betting receipts
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).