16Rates of gaming dutyU.K.
(1)For the Table in section 11(2) of the Finance Act 1997 (c. 16) (rates of gaming duty) substitute—
“Table
| Part of gross gaming yield | Rate |
|---|---|
| The first £516,500 | 2.5 per cent. |
| The next £1,146,500 | 12.5 per cent. |
| The next £1,146,500 | 20 per cent. |
| The next £2,007,500 | 30 per cent. |
| The remainder | 40 per cent.” |
(2)This section has effect in relation to accounting periods beginning on or after 1st April 2004.