U.K. Plans Changes to Offshore Gaming Rules, May End Tax Breaks

[The Geek]

http://www.bloomberg.com/news/2011-07-13/u-k-plans-changes-to-offshore-gaming-rules-may-end-tax-breaks.html

[LuckyYou]

Yeah I've read it right now... Bad news Indeed. May cause of increasing the charge even more

[Cran]

Yeah I've read it right now... Bad news Indeed. May cause of increasing the charge even more

maybe they will have to make the PC 110%

[PesceLesso]

I'm afraid this is gonna be the last kick in the nuts for BF.
all the money spent to move to Gibraltar and now this... what a joke...

my personal shareprice forecast (within 31/04/2012) if Mr. Cameron keeps his promises:

156p (which would corresponds to a 5.5% yield if they manage to meet the analysts expectation of 8.89p dividend next year)

http://www.digitallook.com/cgi-bin/dlmedia/security.cgi?username=&ac=&csi=2511653

[LuckyYou]

I'm afraid this is gonna be the last kick in the nuts for BF.
all the money spent to move to Gibraltar and now this... what a joke...

my personal shareprice forecast (within 31/04/2012) if Mr. Cameron keeps his promises:

156p (which would corresponds to a 5.5% yield if they manage to meet the analysts expectation of 8.89p dividend next year)

http://www.digitallook.com/cgi-bin/d...c=&csi=2511653

Come on - you are telling that the Armani boys will come even sooner

[Pro Gambler]

Karma.

Now betfair get their own ar$eholes rammed. Not so nice is it?

[LuckyYou]

You have to be sure that Betfair earned more money by moving than to stay in UK anyway. The problem is that they wont be able not to pay taxes in the future GREED

[loktari]

haha I bet someone important has been thinking about how to screw betfair in any way possible these last weeks

[shadowninja]

I hear Cameron liked a flutter on the GGs via Betfair and was miffed to hear about PC2. I say hear, I wasn't listening to his voicemails or anything like that!

[Leonthefixer]

Don't race ahead with yourself guys, nothing has changed on the tax front or Levy, HMRC hasn't said anything I don't believe.

This is just a regulatory change....at the moment....

[Shaun]

I think moving anything like this offshore to avoid tax issues is a problem.

[KOTBIIAJIbTO]

Now the next step Betfair will take if these new rules come into effect will probably be to prevent UK customers from betting on the exchanges in order to avoid paying taxes

[doubleback]

2001/02:

"The Government abolished its 6.75pc betting levy in the Budget, replacing it with the gross profits tax.
In return for the tax change, the major bookmakers agreed to return their tax-free offshore telephone and internet businesses to the UK."

If Bookies/Exchanges start to avoid the tax then they are going back on their word of bringing their offshore activities back to Britain.
The government could either end the tax breaks or bring the betting tax back for UK bettors, looks like they are going for the former......

[Leonthefixer]

[I]If Bookies/Exchanges start to avoid the tax then they are going back on their word of bringing their offshore activities back to Britain.

The government could either end the tax breaks or bring the betting tax back for UK bettors, looks like they are going for the former......

They did come back, back in those day the internet wasn't what it is today and telephone betting was a lot more expensive than it is now to operate so it made sense for them to come back to the UK. Now technology has advanced it is cheaper for them to bugger off which is what they have all been doing for the last few years.

[doubleback]

They did come back, back in those day the internet wasn't what it is today and telephone betting was a lot more expensive than it is now to operate so it made sense for them to come back to the UK. Now technology has advanced it is cheaper for them to bugger off which is what they have all been doing for the last few years.

That is my point entirely........I think it was always going to happen [tax the offshore bookies] if too many left to try and avoid tax after the 01/02 changes.

I think I was still on dial-up back in those days.........