The General Betting, Pool Betting and Remote Gaming Duties (Returns, Payments, Information and Records) Regulations 2014

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations make rules about returns, payments, records and the provision of information for general betting, pool betting and remote gaming duty under Part 3 of the Finance Act 2014. Those duties apply starting on 1st December 2014(1).

Regulation 3 requires a return for each accounting period not more than 30 days after the end of the period. It also allows for corrections.

Regulation 4 allows 30 extra days for payment of general betting and pool betting duty(2). It stipulates a corresponding time limit for payment of remote gaming duty. It also requires payment to be made according to instructions from HM Revenue and Customs (HMRC).

Regulation 5 requires betting exchange operators to provide bookmakers with a statement of profits enabling the latter to account properly for general betting duty.

Regulation 6 makes amendments that enable HMRC to impose additional record-keeping conditions on particular bookmakers or remote gaming providers.

A Tax Information and Impact Note covering this instrument was published on 5th December 2013 alongside the draft legislation for the Remote Gambling Tax Reform and is available on the Government’s website at:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/264614/1._Remote_gambling_tax_reform.pdf.

It remains an accurate summary of the impacts that apply to this instrument.

(1)

Section 198(5) of the Finance Act 2014 (c. 26).

(2)

Beyond the time due under sections 142(2), 142(4) and 151(1) of the Finance Act 2014.