TaxPersonal TaxTax move triggers Ladbrokes jobs boost

Tax move triggers Ladbrokes jobs boost

Bookmaker Ladbrokes is to create 1,000 new jobs in response to the abolition of betting duty this autumn.

The gambling arm of the Hilton Group anticipates a huge surge in demand when the 9% duty on bets is axed in October. Betting duty is set to be replaced by a tax on the gross profits of betting companies.

Gaming industry turnover is expected to increase by 30% from the current level of Pounds 7.3bn.

A spokesman said that the new jobs would be in addition to the recent creation of 200 positions at the company’s headquarters in Rayner’s Lane, London and at its call centre in Liverpool.

Under the new arrangements, Ladbrokes is required to scale down offshore tax-free betting operations, which were thought to have cost the exchequer millions of pounds in lost revenue a year.

The government announced last week that tax-free betting would be brought forward by three months. The change will now take place on 6 October, rather than 1 January 2001 as had previously been announced.

Links

Tax-free betting brought forward

Bets finally off on gaming tax

Offshore betting will live on, says bookie

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