Bingo Duty to be scrapped
A big win for Bingo operators, Bingo halls and companies will no longer need to pay Bingo duty. Bingo duty is currently 10%, taken from profits. The intention is that the savings will go toward the 7000 jobs the bingo industry currently supports.
This will be a part of a new tax framework targeting betting and gambling businesses.
A big win for Bingo operators, Bingo halls and companies will no longer need to pay Bingo duty. Bingo duty is currently 10%, taken from profits. The intention is that the savings will go toward the 7000 jobs the bingo industry currently supports.
This will be a part of a new tax framework targeting betting and gambling businesses.
Remote Gaming Duty will rise from 21% to 40% and will be chargeable on remote gaming profits – this targets online casinos.
Changes to General Betting Duty will see a new 25% rate for remote betting – this will take place next year, from 1st April 2027 onwards. This will apply to all online sports betting apart from horse racing which shall remain at 15%.
Bingo Duty, however, will be abolished. The rationale behind this is that its is a lower risk activities, benefits community project and cohesion, and helps to simplify the tax system.
Why are these tax legislation changes for gambling being made?
The Government are raising taxes on betting companies to facilitate the removal of the two-child benefit limit. They are also trying to discourage gambling operators from adopting casino-style gaming – which will incur a higher tax burden from April.
Gambling is estimated to cost the Exchequer more than £1 billion annually through pressures on public services.
The Government projects that the changes will raise over £1 billion annually from 2027.
Bingo halls and community centres dedicated to bingo are valuable and important. They are social hubs for communities, helping to bring people together. Online casino-style gaming does not promotes social cohesion, and instead promotes dangerous habits and addictive tendencies in young people. The government’s tax changes reflect their opinion on subsets of the gambling industry as whole.