Finance Act 2014

Post-commencement winnings on non-dutiable pre-commencement general or pool betting

7 (1) In this paragraph “transitional accounting period” means an accounting period—

(a) beginning on or after 1 December 2014, and

(b) ending on or before 30 November 2018.

(2) For the purposes of this paragraph, a bet is “non-dutiable” if—

(a) neither of sections 2(1) and 3(1) of BGDA 1981 applies to it,

(b) it is not a bet by way of pool betting on which general betting duty is charged under section 4(1) of BGDA 1981, and

(c) it is not a dutiable pool bet as defined by section 7B of BGDA 1981.

(3) Where—

(a) a non-dutiable bet is made with a bookmaker before 1 December 2014, and

(b) the bet is a general bet as defined by section 126 of this Act,

amounts paid by the bookmaker in a transitional accounting period by way of winnings to the person who made the bet may be included among the amounts aggregated at Step 2 in section 131 of this Act in calculating the bookmaker’s ordinary profits in respect of general bets for that period.

(4) Where—

(a) a non-dutiable bet is made with a bookmaker before 1 December 2014, and

(b) the bet is a financial spread bet as defined by section 128 of this Act,

amounts paid by the bookmaker in a transitional accounting period by way of winnings to the person who made the bet may be included among the amounts aggregated at Step 2 in section 131 of this Act in calculating the bookmaker’s ordinary profits in respect of financial spread bets for that period.

(5) Where—

(a) a non-dutiable bet is made with a bookmaker before 1 December 2014, and

(b) the bet is a non-financial spread bet as defined by section 128 of this Act,

amounts paid by the bookmaker in a transitional accounting period by way of winnings to the person who made the bet may be included among the amounts aggregated at Step 2 in section 131 of this Act in calculating the bookmaker’s ordinary profits in respect of non-financial spread bets for that period.

(6) Where—

(a) a non-dutiable bet is made with a bookmaker before 1 December 2014, and

(b) the bet is a Chapter 1 pool bet as defined by section 134 of this Act,

amounts paid by the bookmaker in a transitional accounting period by way of winnings in respect of the bet may be included among the amounts aggregated under section 137(b) of this Act in calculating the bookmaker’s profits for that period in respect of ordinary Chapter 1 pool bets.

(7) Where—

(a) a non-dutiable bet is made with a bookmaker before 1 December 2014, and

(b) the bet is a Chapter 2 pool bet as defined by section 143 of this Act,

amounts paid by or on behalf of the bookmaker in a transitional accounting period by way of winnings in respect of the bet may be included among the amounts aggregated under section 146(b) of this Act in calculating the bookmaker’s profits for that period in respect of ordinary Chapter 2 pool bets.

(8) Section 140 of this Act (meaning of “winnings”) applies for the purposes of sub-paragraphs (3) to (6).

(9) Section 149 of this Act (meaning of “winnings”) applies for the purposes of sub-paragraph (7).