Poker & Tax - UK Government Proposals

    • Helipacter
      Helipacter
      Bronze
      Joined: 28.07.2010 Posts: 474
      Hi,

      According to this story, the UK Government is thinking of changing the law with regards to offshore gambling companies.

      The government wants to tighten up regulations, which is admirable, by making sure all offshore firms are regulated by the gambling commission. They're also trying to levy a higher rate of tax against the firms themselves - which would in turn be passed onto the customer.

      The question is, will this be limited to the UK only, or will a cash-strapped Eurozone also be looking at the online gambling world as a potential source of revenue in the future?

      It seems that it's all in the early stages. However, for FT (or whatever will be "Full Tilt") and Stars users there's more depressing news. If the proposals go through it could cause major problems for them in the UK. The commission grants a gaming licence by looking at, amongst other things, the "criminal record" of the applicant. Both companies are currently being investigated for violation of gambling laws in the US.
  • 5 replies
    • RubyWesson
      RubyWesson
      Bronze
      Joined: 15.08.2010 Posts: 363
      Im from UK and i will personally punch them, if they act as crazy as the americans!
    • thazar
      thazar
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      Joined: 14.09.2009 Posts: 6,561
      that would suck indeed
    • tcs35
      tcs35
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      Joined: 31.01.2009 Posts: 3,583
      From what I've been told it is only intended to secure the UK players. I don't believe they have any intentions of taxing our gambling winnings.
    • Helipacter
      Helipacter
      Bronze
      Joined: 28.07.2010 Posts: 474
      Originally posted by TobyCS
      From what I've been told it is only intended to secure the UK players. I don't believe they have any intentions of taxing our gambling winnings.
      Our winnings no, but they are trying to raise the level of tax paid by the firms - as is normal, these extra costs will push them to find other ways of generating revenue, which normally comes from price increases (i.e. rake).
    • lfcday
      lfcday
      Bronze
      Joined: 01.10.2009 Posts: 38
      The thing is the western goverments all act i nunion like one big global mafia, with America being 'the don' so with them bein as greedy as they are it is only a matter of time before others follow suit.

      I am actually quite suprised its taken them so long to try this one because of the money these sites rake in, you know what governments are like to try and screw every penny out of whoever they can...it was greed that put us in this global financial meltdown in the first place but I suppose with the power they have they will never learn!