Gambling on tax may backfire
Proposals to change the taxation of online betting companies which are based offshore could lead to 40 per cent of gamblers using unauthorised traders.
The Treasury closes its review into the £1.7bn UK remote gambling market next week, in which it is pushing for online companies to be taxed where the bet takes place rather than their physical location. Many online betting groups operate from places such as Gibraltar, where a lighter tax and regulatory regime operates.
However, a report by accountant Deloitte – commissioned by William Hill, which has more than 10 per cent of the UK online market – shows any tax burden will grow the black market: a 15 per cent tax could mean two-fifths of legitimate firms leaving the UK market.
A spokesman for William Hill said: "The question for the Government is, should it introduce policy which distorts markets?"
The magicians using online collaboration to push boundaries
Jennifer Lawrence attacks mass media again over body image
Jennifer Lawrence: 'It should be illegal to call someone fat on TV'
Sun will 'flip upside down' within weeks, says Nasa
Ian Watkins: Police forces probed over earlier allegations as paedophile Lostprophets singer sentenced to 35 years for child sex offences
Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 4 Christmas comes early: Justin Bieber announces he's 'retiring from music'
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£25000 - £32000 per annum: Harrington Starr: Junior Business Analyst - Banking...
£25000 - £35000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Implementation...
£50000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: A leading prov...