Valid from 17/07/2014

PART 3 U.K. General betting duty, pool betting duty and remote gaming duty

CHAPTER 1 U.K. General betting duty

Pool betting on horse and dog races U.K.

135 General betting duty charge on Chapter 1 pool bets U.K.

(1) General betting duty is charged on a Chapter 1 pool bet made with a bookmaker.

(2) It is charged at the rate of 15% of the bookmaker's profits on Chapter 1 pool bets for an accounting period.

(3) The bookmaker's profits on Chapter 1 pool bets for an accounting period are the aggregate of—

(a) the amount of the bookmaker's profits for the period in respect of pooled stake Chapter 1 pool bets (calculated in accordance with section 136), and

(b) the amount of the bookmaker's profits for the period in respect of ordinary Chapter 1 pool bets (calculated in accordance with section 137), and

(c) the amount of the bookmaker's profits for the period in respect of retained winnings on Chapter 1 pool bets (calculated in accordance with section 138).

(4) Where the calculation for an accounting period under subsection (3) produces a negative amount—

(a) the bookmaker's profits on Chapter 1 pool bets for the accounting period are treated as nil, and

(b) the amount produced by the calculation may be carried forward in reduction of the bookmaker's profits on Chapter 1 pool bets for one or more later accounting periods.