3After section 8 insert—
(1)This section applies if a person (“P”) is liable to pay a qualifying foreign tax in respect of bets in respect of which P is also liable to pay pool betting duty.
(2)Bets in respect of which P is liable to pay both pool betting duty and the qualifying foreign tax are referred to as “eligible bets”.
(3)Credit may be allowed for all or part of the qualifying foreign tax paid by P.
(4)Whether any credit is allowed is determined in accordance with Schedule A1.
(5)If credit is allowed for an accounting period, P is entitled to claim a repayment of so much of the duty actually paid as is equal to the amount of credit allowed.
(6)Total repayments to P for that accounting period (taking into account all qualifying foreign taxes) must not, in aggregate, exceed the duty actually paid.
(7)“The duty actually paid” means the pool betting duty paid by P for that accounting period.
(8)A bet does not count as an “eligible bet” if it was made by or on behalf of P.”