31 07 2017

UK Considers Tax On Freeplay Gambling

HM Revenue and Customs (HMRC) is set to introduce a tax on the free bets and discounts that are offered by gambling companies.

The tax on freeplays, which was included in the Finance 2017 and later dropped due to time constraints, will be enacted on August 1, 2017, under revised legislation.

Around 130 bookmakers will be impacted by the change, HMRC said.

The tax authority added that the tax would raise an extra GBP45m (USD59m) in its first year, increasing to GBP110m by 2020/21.