Online betting firms to pay billions more in UK tax, Reeves confirms
by Rob Davies from World news | The Guardian on (#71RC8)
The chancellor almost doubled remote gaming duty in Wednesday's budget, taking it to 40% from April next year
Online casinos and bookmakers will pay billions of pounds more in tax under a steep rise in duties levied on their takings from British gamblers.
Shares in UK gambling firms began tumbling even before Rachel Reeves announced the change in her budget, after the Office for Budget Responsibility (OBR) - which assesses the likely impact of tax changes - accidentally published a document confirming that the industry had been singled out for higher taxes.
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