Tag Archives: HMRC

Entain Plc has lauded its diversified business model as the FTSE100 gambling group achieved 22 consecutive quarters of double-digit online growth.  Publishing its interim 2021 trading results (period ending 30 June), Entain registered group revenues of £1.79 billion, up 11% on corresponding 2020’s results of £1.61 billion. Period growth was attributed to improved online trading across all markets (except Germany), …

GVC Holdings has become the latest gambling company to issue a claim to Her Majesty’s Revenue & Customs  (HMRC) regarding compensation owed from tax charges related to fixed-odds betting terminals (FOBTs). After William Hill followed the lead of Betfred and Rank Group earlier in the week, GVC has predicted that a successful claim ‘will result in a cash inflow to …

Amid COVID-19 disruptions, Rank Group has revealed that it is ‘preparing for difficult trading conditions’ when it reopens its venues. Publishing a trading update for the quarter to 31 March 2020, Rank’s like-for-like net gaming revenue was down 4% for the quarter, while total NGR saw an increase of 5%. Rank Group has predicted that annual underlying operating profit will amount …

HM Revenue and Customs (HMRC) has published its national statistics update on duties generated by the industry’s seven different tax verticals – Bingo Duty, Gaming Duty, General Betting Duty (GBD), Lottery Duty, Machine Games Duty (MGD), Pool Betting Duty (PBD) and Remote Gaming Duty (RGD). Reporting betting & gaming tax statistics for the six month period of April-to-September 2019, HMRC reports …

Publishing its ‘Anti-money laundering and counter-terrorism financing supervision report 2017/18’, the HM Treasury has praised the UK Gambling Commission (UKGC) for its contribution to research and insights on UK AML concerns. The Treasury publishes its seventh ‘AML/CTF report’, seeking to improve compliance transparency and accountability for UK supervisory stakeholders, across multiple business disciplines. In its report, the HM Treasury consults …

The UK government has released its policy paper supporting the 2018 Budget, detailing the Treasury’s fiscal planning, monetary policies and industry/commercial duties. The update confirms that the government will implement its long-awaited FOBTs £2 stake reduction from October 2019, a directive that will cost the Treasury £270 million in lost tax revenues by 2023/24. Making up for tax shortfall, the …