Overseas firms that are sportsbetting Pay £300 Million in Taxes for British Play

Offshore sportsbetting outfits will soon have to pony up UK taxes to remain in business with British punters
The country is closing a loophole which has been enabling big bookies to dodge paying tax in Great Britain in a move to protect the UK ‘s racing industry. Each year as a result, gambling firms that operate offshore from tax havens, but take bets from British-based punters, could see themselves hit with a combined £300 million ($470 million) tax bill. Those who continue steadily to try to dodge having to pay taxes on their profits obtained from Uk customers could address seven years imprisonment and fines that are unlimited.
Many UK Bookmakers Operate from Abroad
Some of the British’s many bookmaking that is popular have positioned their online operations outside of the united kingdom simply to take advantage of lower tax rates, including William Hill, Ladbrokes and Coral, all of which reap the benefits of huge popularity among UK punters.
Now, beginning in December 2014, bookmakers who take wagers from British-based customers either by telephone or on the web is going to be liable to tax bills regarding the earnings, with no consideration of where into the globe their operations are found.
Estimates from the Gambling Commission value the united kingdom remote gambling market at more than £2 billion yearly, and treasury officials claim that the UK is set to gain around &poun Saiba Mais

Offshore sportsbetting outfits will soon have to pony up UK taxes to remain in business with British punters
The country is closing a loophole which has been enabling big bookies to dodge paying tax in Great Britain in a move to protect the UK ‘s racing industry. Each year as a result, gambling firms that operate offshore from tax havens, but take bets from British-based punters, could see themselves hit with a combined £300 million ($470 million) tax bill. Those who continue steadily to try to dodge having to pay taxes on their profits obtained from Uk customers could address seven years imprisonment and fines that are unlimited.
Many UK Bookmakers Operate from Abroad
Some of the British’s many bookmaking that is popular have positioned their online operations outside of the united kingdom simply to take advantage of lower tax rates, including William Hill, Ladbrokes and Coral, all of which reap the benefits of huge popularity among UK punters.
Now, beginning in December 2014, bookmakers who take wagers from British-based customers either by telephone or on the web is going to be liable to tax bills regarding the earnings, with no consideration of where into the globe their operations are found.
Estimates from the Gambling Commission value the united kingdom remote gambling market at more than £2 billion yearly, and treasury officials claim that the UK is set to gain around &poun Saiba Mais