SCHEDULES

SCHEDULE 25Amendments connected with Gambling Act 2005

Part 4Amendments of FA 1997 relating to gaming duty

Banker's profits from gaming

I118

1

Section 11 (rate of gaming duty) is amended as follows.

2

In paragraph (b) of subsection (10), for “the value, in money or money's worth, of the winnings paid” substitute “ the value of the prizes provided ”.

3

After that subsection insert—

10A

Subsections (2) to (6)(a) of section 20 of the Betting and Gaming Duties Act 1981 (expenditure on bingo winnings: valuation of prizes) apply, with any necessary modifications, for the purposes of gaming duty as they apply for the purposes of bingo duty.

4

In subsection (11), for “(10)” substitute “ (10A) ”.