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Budget 2012: A machine games duty will be introduced.
Posted: Wed Mar 21, 2012 1:30 pm
by Matt Vinyl
Any thoughts on what this may mean chaps and if it's relevant to 'us'? I would've thought it would've been worded as "Games Machine duty will be introduced", but...
Can't find any further details as yet...
Posted: Wed Mar 21, 2012 1:56 pm
by Spyder
I watched that and can't work out how it will work? Defo applies to fruit machines tho.
Posted: Wed Mar 21, 2012 2:32 pm
by Plumy2k
http://www.itv.com/news/update/2012-03- ... ng-duties/ looks like they've been trying to avoid VAT and government have got fed up with it. They'll probably have to pay 20 on all profit from the fruits. Wonder if they'll get a rebate when an emptier comes out? :-)
Posted: Wed Mar 21, 2012 3:18 pm
by Noels Beard
Actually...I've changed my mind on this...surely all he's done is exempt them from VAT, and change the relevant tax to a gaming tax of 20%, (same as VAT), so to stop the court challenges.
Posted: Wed Mar 21, 2012 6:18 pm
by Matt Vinyl
As for gambling, the tax regime is being changed significantly there too.
A new Machine Games Duty for the gambling industry will come in, at a standard rate of 20%, with a lower rate for "low-prize" machines of 5% of net takings.
The new gambling tax regime will also be altered to discourage online gambling firms from moving offshore.
From the Beeb's 'At A Glance' pages... Could we see the return of £5 / £8 / £10 JP machines in the local boozer?
Posted: Wed Mar 21, 2012 8:02 pm
by Noels Beard
The fact that the cash box takings should be subject to VAT has been challenged in the courts numerous times. What could have happened is that the judiciary rule that this is the case and the Treasury miss out on a lot of money. All that's been done here I think is that they're just renaming the tax that is paid. Seems strange as well that it's set at 20%, same as VAT. We won't be seeing any sudden changes I don't think.
Posted: Wed Mar 21, 2012 11:35 pm
by Spyder
If its effective immediately, major firms will be on it straight away, meaning %ages will be rock bottom.
Posted: Wed Mar 21, 2012 11:56 pm
by gambogaz1
No it isn't. 1st Feb 2013 is when the changes come in.
Posted: Thu Mar 22, 2012 9:39 am
by Cf
And it looks like AMLD is going.
So it used to be pay ~£1000 per machine + 20% VAT.
Now it's just pay 20% of profits per machine.
So could actually seem like good news...
Posted: Thu Mar 22, 2012 9:41 am
by Spyder
no yearly license duty? fuckin hell.... we should team together and buy a massive arcade somewhere.. that pretty much puts awps to pay-as you-earn tax?
Posted: Thu Mar 22, 2012 9:51 am
by Northern Monkey
Cf wrote:And it looks like AMLD is going.
So it used to be pay ~£1000 per machine + 20% VAT.
Now it's just pay 20% of profits per machine.
So could actually seem like good news...
Yes the new tax will replace VAT and AMLD. Based on the Treasury's impact assessment, the change will be revenue neutral across the whole sector with some winners and losers. They expect that on average pubs and arcades should end up paying less tax whilst the bookies and casinos will pay a bit more.