BusinessCompany NewsBingo operators renew calls for VAT scrap

Bingo operators renew calls for VAT scrap

Long-running dispute takes new twist as bingo operators lobby Treasury to make a U-turn on the way the industry is currently taxed

Bingo companies have put more pressure on the government to ease the tax
burden they carry.

In a letter delivered alongside the industry’s submission to the Treasury
ahead of the 2008 Budget, bingo operators warned that the alleged double-tax
regime for bingo may cause club closures and a consequent decline in tax take
for the
Treasury,The
Daily Telegraph
reported.

Industry bosses claimed in the letter that Bingo was ‘the only mainstream
gambling product to be subject to double taxation in the form of gross profits
tax and VAT.’

Eight bingo chiefs including Rank boss Ian Burke and Gala head Neil Goulden
said, ‘Based on current projections, the net cost of removing VAT at this point
is likely to be revenue positive to the government when compared with the cost
of clubs closing.’

Further reading:

Ministers
push Darling to ease bingo tax

Related Articles

CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

4m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

4m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

7m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

7m Emma Smith, Managing Editor
Double digit profits rise for Smith & Williamson

Accounting Firms Double digit profits rise for Smith & Williamson

8m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

7m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

7m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

7m Emma Smith, Managing Editor