Online Gambling Tax Increases: Impact on Gamblers and Industry
Understanding the Tax Changes
The online gambling taxes are increasing as a response to the highest levels of harm reported. Rachel Reeves, the Chancellor, underscores the need for these tax adjustments to protect vulnerable players.
No Changes for In-Person Gambling
In-person gambling and horse racing remain unaffected. This stability reflects a focus on the rapidly changing online gambling environment.
Future of Gambling Duties
Interestingly, the bingo duty will be abolished entirely from April next year, indicating a shift in the taxation approach to promote responsible gambling practices.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.