Democorruptcy Posted February 1, 2013 Share Posted February 1, 2013 (edited) Yeah, that's odd, since I know for a fact both Hills and Ladbrokes' servers were based in the UK when they then initiated projects to move them to Gib. And this was around 2009-10. Doh! You are quoting articles about betting tax being abolished in 2001 and suggesting bookies moved abroad because of it. They didn't. They came back! They have since gone abroad because they got even greedier By Simon Goodley12:01AM BST 08 Oct 2001 THE abolition of betting duty at the weekend boosted bookies' turnover, but business still fell short of the levels needed to cover the new 15pc tax on gross profits. Ladbrokes, the bookmaking chain owned by the leisure group Hilton, saw a rise in horse racing bets of 20pc compared with the same weekend last year. Its rival William Hill said the industry was on course to take about £50m over the weekend, rather than the usual £40m. Bookmakers, however, need to increase turnover by up to 30pc to cover the costs of the tax changes. A spokesman for Ladbrokes insisted: "As a starting point, this was quite good. We are very pleased." He calculated that punters saved around £4m in betting tax over the weekend. http://www.telegraph.co.uk/finance/2736634/Punters-rally-as-betting-tax-ends.html I don't know much about much but when it comes to gambling I'd be very surprised if anyone on here knew as much about it as me. That's not boasting just call it a mis-spent pre-youth, mis-spent youth, mis-spent adulthood, etc. Edited February 1, 2013 by Democorruptcy Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted February 1, 2013 Share Posted February 1, 2013 Doh! You are quoting articles about betting tax being abolished in 2001 and suggesting bookies moved abroad because of it. They didn't. They came back! They have since gone abroad because they got even greedier I don't know much about much but when it comes to gambling I'd be very surprised if anyone on here knew as much about it as me. That's not boasting just call it a mis-spent pre-youth, mis-spent youth, mis-spent adulthood, etc. I'm still not sure why they came onshore then. They definitely wanted to stay in the uk, Gordon Brown met Ralph topping on a train specifically to talk about it. Treasury said no so they moved abroad (again). I'm still pretty sure ladbrokes were never offshore until 2010ish Quote Link to comment Share on other sites More sharing options...
doomed Posted February 1, 2013 Share Posted February 1, 2013 Company does what ever is legally possible to increase profits after tax! I can't believe they would act this way! How dare they! Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted February 1, 2013 Share Posted February 1, 2013 I'm still not sure why they came onshore then. They definitely wanted to stay in the uk, Gordon Brown met Ralph topping on a train specifically to talk about it. Treasury said no so they moved abroad (again). I'm still pretty sure ladbrokes were never offshore until 2010ish I agree with that. All I'm saying is that the initial move offshore was not because tax went up from 6.75% to 15% as you implied. That was a reduction in tax, that stopped them all going offshore around 2001, not something that made them leave. At the time Labour thought the UK was going to become the gambling epicentre of the world and all the firms all over the world would register with our new Gambling Commission and they would all pay tax to the UK. It never happened it was just Labour being stupid. So as foreign firms don't pay gross profits tax, now the UK ones don't want to pay it either, even though they requested it. Of course like all other industries they also don't want to pay corporation tax. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted February 1, 2013 Share Posted February 1, 2013 So as foreign firms don't pay gross profits tax, now the UK ones don't want to pay it either, even though they requested it. Of course like all other industries they also don't want to pay corporation tax. You don't think maybe they requested it because they knew they would then be able to avoid it? Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted February 1, 2013 Share Posted February 1, 2013 You don't think maybe they requested it because they knew they would then be able to avoid it? Yes probably. A tax on what they have decided they have won, must be better to fiddle handle than a tax on every bet winner or loser. Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted February 2, 2013 Share Posted February 2, 2013 (edited) "Murderous lepus"? He certainly is on the left. I see him mainly interested in stopping tax evasion, which seems good, and so would tend to lower taxes (for those that pay them, but not for those that don't), Peter. Put like that, it sounds very wholesome. It's rarely that simple, no? As for the bit in quotes, ask a Wealth Manager. Edited February 2, 2013 by cheeznbreed Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted February 3, 2013 Share Posted February 3, 2013 Yes probably. A tax on what they have decided they have won, must be better to fiddle handle than a tax on every bet winner or loser. Don't even need to do that, just transfer funds to an offshore holding company calling them "fees". Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted February 3, 2013 Share Posted February 3, 2013 The servers are in Gibraltar, so that the bets are taken there. Be simpler if the bets are taxed where they are requested I guess but there's probably legal implications to that I don't know about. Quote Link to comment Share on other sites More sharing options...
Spare Change Please Posted February 4, 2013 Share Posted February 4, 2013 Are they not in Gib to avoid paying VAT? Quote Link to comment Share on other sites More sharing options...
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