If you offer gaming over the internet, telephone, by television, radio or other electronic communications then the Remote Gambling Duty (RGD) applies to you. The rate of RGD will be increased to 21% from 1 October 2019.
The new duty rate will apply for accounting periods that begin on or after 1 October 2019 and will be chargeable on profits from remote gaming from that date onward. Where this date falls part-way through an accounting period, the increased rate will be charged only on the profits that arise between 1 October and the end of that accounting period.
The RGD rate is in section 155(3) of Finance Act 2014. Currently, RGD is chargeable at the rate of 15% of the gaming provider’s profits on remote gaming for an accounting period. RGD providers file returns on a quarterly basis.
Legislation will be introduced in Finance Bill 2018-19 to amend section 155(3) of Finance Act 2014. The rate will be amended to reflect the increase from 15% to 21%.
If you any questions as to Gaming Duty you may contact Hammad to discuss.