United Kingdom will change tax calculation scheme for bookmakers

The Bookmakers operating in the UK, will pay taxes on the new calculation system in 2017. The UK Gambling tax changes has  been recently announced by the UK Gambling Authority.

Taxes on the bookmakers will be calculated according to the proportional method, as to say based on each individual company index volume. The government has estimated the new system to reduce a tax burden on gambling in the UK at 10%.

The UK Gambling tax will decrease by 2 – 75% for smaller companies. At the same time large enterprises will have to pay up to 40% more. Moreover, leading UK gambling companies might also pay an annual fee in the amount of 164 thousand pounds (0.01 to 0.5% of gross gaming collection). Legal online bookmakers will receive a 25% discount the first year.

The new tax scheme is expected to start operating from April, 6 of 2017.