Jeremy Hunt, the chancellor of the exchequer,  announced that the government will consult on plans to introduce a single unified remote gambling tax.

A single tax is likely to replace the current structure of three separate rates.

UK.- The chancellor of the exchequer has delivered his Autumn Statement on the UK government’s tax and spending plans, and it includes new plans for the taxation of online gambling. Jeremy Hunt announced that the government will consult on plans to introduce a single unified remote gambling tax.

The new tax would replace the current system, which involves three separate taxes: remote gaming duty, general betting duty and pool betting duty. He said the consultation would begin “shortly” and that the change would apply to “gambling offered over the internet, telephone, TV and radio”.

At the moment, remote gaming duty is calculated at 21 per cent of remote gaming profits, general betting duty at 15 per cent of net stake receipts and pool betting duty at 15 per cent of pool betting receipts. There is no proposal to change the way tax is calculated for land-based gambling.

Meanwhile, the government and Gambling Commission continue to consult on proposals made in the government’s Gambling White Paper. Earlier this month, the Gambling Commission advised stakeholders that it will launch seven new consultations.

Tim Miller, the Gambling Commission’s executive director for policy development, said the next consultations will deal with “socially responsible incentives, customer-led tools, transparency of customer fund protection, annual financial contributions to research, prevention, and treatment, regulatory data reporting, financial penalties, and financial key event reporting”. They are expected to last until February or March.

https://focusgn.com/uk-government-plans-unified-remote-gambling-tax