CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. UK Machine Games Duty Registration Deadline Approaches

UK Machine Games Duty Registration Deadline Approaches

by Jason Gorringe, Tax-News.com, London

27 December 2012


A new Machine Games Duty is due to come into effect in the UK, replacing Amusement Machine Licence Duty and VAT, and HM Revenue and Customs (HMRC) has issued a reminder that venues operating gaming machines need to register by January 11, 2013.

The duty will apply to machines which offer a cash prize which is greater than the cost of playing. The standard rate will be 20%, although a reduced rate of 5% is available where the maximum cost per game on a machine is GBP0.10 and the cash prize is GBP8 or less. The duty will come into effect from February 1, 2013, but HMRC warns that applications received after January 11 may not be processed in time to avoid a penalty.

HMRC estimates that approximately 42,000 venues will be affected by the change, including bookmakers, casinos, amusement arcades, bingo halls, pubs, and clubs. HMRC advises operators to make use of its online registration service, although a paper application form is also available to download.

The removal of value-added tax (VAT) from the takings of gaming machines brings the UK into line with European Union rules on gambling activity, which provide that gambling should normally be exempt from VAT. The changes do not affect "virtual" on-line fruit machines, and VAT will continue to be payable on the takings from amusement machines.

TAGS: tax | gambling tax | United Kingdom | gambling | legislation

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »