Philip Hammond, British Chancellor of the Exchequer, has announced a 6 per cent increase in remote gaming duty by 6 per cent in his new Budget. The raise – which will be applicable to online casino games such as poker and blackjack – will come into effect on October 2018.
The tax hike is intended to fund the crackdown on fixed odds betting terminals (FOTBs).
When the new tax regime will come into force, the tax will rise from 15 to 21 per cent.
The Government intends use the revenue from this tax raise to offset the cost of reducing the maximum stakes for FOTBs from £100 to just £2 from October 2019.
The Real Good Food Company
“The advice we got from Joelson was, as usual, proactive, clear and practical. The timetable was tight but the team made sure we got through everything in good time and with zero fuss.”
Pieter Totte, Executive Chairman
The Real Good Food Company PLC