The Gaming Duty (Amendment) Regulations 2010
Citation and commencement1.
These Regulations may be cited as the Gaming Duty (Amendment) Regulations 2010 and come into force on 1st October 2010.
Interpretation2.
In these Regulations “quarter” means the first three months of an accounting period.
Application and revocation3.
(1)
These Regulations apply in the case of payments on account of gaming duty for any quarter that ends on or after 31st October 2010.
(2)
The amount of payments on account4.
Part of gross gaming yield | Rate |
|---|---|
The first £987,500 | 15 per cent |
The next £680,750 | 20 per cent |
The next £1,192,500 | 30 per cent |
The next £2,516,750 | 40 per cent |
The remainder | 50 per cent |
The duty rates in the table are those for the first three months of each six-monthly accounting period, hence the bands represent half of the new bands of gross gaming yield shown in section 20 of the Finance Act 2010. The interim quarterly payments under these Regulations are intended to be roughly half of the expected duty liability for the six-monthly period.
A full and final Impact Assessment has not been produced for this instrument as a negligible impact on the private or voluntary sectors is foreseen.