(This note is not part of the Regulations)
These Regulations come into force on 6th October 2001.
These Regulations provide the machinery for administering the general betting duty charged by sections 2 to 4 of the Betting and Gaming Duties Act 1981 (c. 63).
These Regulations replace the General Betting Duty Regulations 1987 (S.I. 1987/1963) (as amended) and have been introduced as a consequence of the changes made to the Betting and Gaming Duties Act 1981 by Schedule 1 to the Finance Act 2001 (c. 9).
The principal features of these Regulations are:
(a)changes to the requirements imposed on on-course bookmakers who accept off-course bets; and
(b)the introduction of provisions for variations from the standard calendar month accounting period.
Regulation 4 prescribes the action to be taken by bookmakers to record bets. It also requires that an on-course bookmaker notifies the Commissioners within 7 days of accepting an off-course bet unless he has previously given notice that he intends to accept such bets.
Regulation 5 prescribes the timing and procedure for bookmakers to make returns. In particular, it requires that an on-course bookmaker who has accepted off-course bets must make returns until he stops taking such bets and has so notified the Commissioners.
Regulation 6 makes provision for the manner in which general betting duty must be paid.
Regulation 7 provides for variations to the standard calendar month accounting period for the calendar month in which these Regulations come into effect.
Regulation 8 provides for non-standard monthly accounting periods.
Regulation 9 provides for three-month accounting periods for bookmakers who have produced negative net stake receipts in any two of the previous twelve months.
Regulation 10 provides for accounting periods of three months for financial spread bets and for those bookmakers who, in the previous twelve months, were due not more than £600,000 in respect of dutiable bets.
Regulations 9 and 10 will not allow three-month accounting periods for bookmakers who have in the previous twelve months been convicted of certain offences or, who have failed to furnish returns, or who have any duty outstanding.
Regulation 11 details the circumstances in which three-month accounting periods will cease to apply.
Regulation 12 provides for security for duty and requires that the Commissioners be informed about non-compliance by on-course bookmakers.