Proposal for casino tax eased
Tuesday 30 June 1998
The proposal is that the new top rate of tax, 40 per cent, will now apply only to gross gaming yield in excess of pounds 4.2m a year instead of pounds 2.9m.
In the Budget, Mr Brown had proposed changes which would raise revenue from the tax by pounds 25m pounds in a year. Tax of 2.5 per cent was to be payable on the first pounds 400,000 of gross gaming yield; 12.5 per cent on the next pounds 1m; 25 per cent on the next pounds 1.5m; and 40 per cent on the remainder.
Under the amendment, the 2.5 per cent tax band is raised to pounds 450,000 of gross yield; the next pounds 1m will be at 12.5 per cent; the next pounds 1m 20 per cent; the next pounds 1.75m 30 per cent; and the remainder 40 per cent. The amendment is expected to be debated in the Commons today.
- 1 The West has it totally wrong on Lee Kuan Yew
- 2 Watch: Man takes selfie every mile of 2,600 mile hike, creates amazing timelapse video
- 3 The day I starred in Only Fools and Horses
- 4 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Revealed: Putin's army of pro-Kremlin bloggers
Germanwings plane crash: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
Andreas Lubitz: Knee-jerk reaction to 9/11 enabled mass murder
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...