Part I Betting Duties

Pool betting duty

7CF2F1 Net pool betting receipts: calculating stake money

1

This section applies for the purpose of calculating S in a calculation under section 7A.

2

Any payment that entitles a person to make a bet shall, if he makes the bet, be treated as stake money on the bet.

3

All payments made—

a

for or on account of or in connection with bets that are dutiable pool bets for the purposes of the calculation,

b

in addition to the stake money, and

c

by the persons making the bets,

shall be treated as amounts due in respect of the bets except in so far as the contrary is proved by the person whose net pool betting receipts are being calculated.