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U K Bookies Avoid £1Bn Of Tax


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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 by Democorruptcy
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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

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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.

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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?

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"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 by cheeznbreed
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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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