2012 No. 1897
Excise

The Gaming Duty (Amendment) Regulations 2012

Made
Laid before the House of Commons
Coming into force
The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the power conferred by section 12(4) of the Finance Act 19971.

Citation and commencement1.

These Regulations may be cited as the Gaming Duty (Amendment) Regulations 2012 and come into force on 1st October 2012.

Interpretation2.

In these Regulations “quarter” means the first three months of an accounting period.

Application and revocation3.

(1)

These Regulations apply in the case of payments on account of gaming duty for any quarter that ends on or after 31st October 2012.

(2)

The Gaming Duty (Amendment) Regulations 20102 are revoked.

The amount of payments on account4.

For the purpose of calculating payments on account of gaming duty in the cases to which these Regulations apply, substitute the following Table for the Table in regulation 5 of the Gaming Duty Regulations 19973.
Table

Part of gross gaming yield

Rate

The first £1,087,500

15 per cent

The next £749,750

20 per cent

The next £1,313,000

30 per cent

The next £2,771,250

40 per cent

The remainder

50 per cent

Mike Eland
Dave Hartnett
Two of the Commissioners for Her Majesty’s Revenue and Customs
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations amend regulation 5 of the Gaming Duty Regulations 1997 ( S.I. 1997/2196) which deals with the amount of payments on account. They substitute a new Table reflecting changes to the bands of gross gaming yield for gaming duty made by section 193 of the Finance Act 2012 c. 14 4, and will apply in the case of payments on account of gaming duty for any quarter that ends on or after 31st October 2012.

The parts of the gross gaming yield in the Table are half the value of the new bands of gross gaming yield shown in section 193 of the Finance Act 2012. This is because the period covered is the first three months of a six month accounting period.

A Tax Information and Impact Note has not been prepared for this instrument as it contains no substantive changes to tax policy.