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New Regulations Come Into Force for UK Gambling

Proposed changes to gambling regulations have come into force as of 1st December, meaning that those operating ‘offshore’ but with a presence in the United Kingdom will have to pay taxes whether they have even visited the country or not.
The regulations have been brought in to prevent companies from taking advantage of legal loopholes which allow them to pay less tax on the money they make, and now they will be forced to pay just like a UK-based casino, bookmaker or bingo website like those listed on the Two Big Ladies bingo comparison website to make the industry much fairer according to the UK Gambling Commission.

These laws come into effect shortly after the same body announced that gambling in the UK was flourishing, with a gross gambling yield of £6.8 billion for the period between April 2013 and March 2014, with the remote betting, casino and bingo market the biggest mover having grown by 22% in comparison to the previous year.

It is hoped that these new regulations, while making the industry much more equal and weighted far more favourably, will still encourage people to bet and play their online games without being ‘punished’ by those being forced to pay more tax. Some were skeptical that it would put a lot of gambling and gaming businesses out of action, forcing them to pay out amounts that leave them making little or no money to keep going, and hitting their customers harder to ensure that they stay alive.

The rulings would have come into effect much sooner had it not been for an appeal from the gambling authority in Gibraltar who called the new rulings “unlawful”, but this appeal has been rejected and the rulings are now in force with Her Majesty’s Revenue and Customs (HMRC) now requiring all gambling bodies who operate in the UK market to register or face sanctions including tax evasion.

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