All of Britain’s scheduled races on September 10 will be canceled and the sport will, in effect, will continue to strike, as the career rises to protests against a Treasury proposal to align the rate of duty to be charged with sports assessment with rates for more addictive games like roulette and online slot machines.
Moving to leave meetings at Uttoxter, Lingfield, Kempton and Carlisle are expected to result in a loss of nearly £ 700,000 in the industry.
The action, first reported by the Times, was agreed following the cooperation between the Jockey Club Racecourses, which operates Kempton and Carlisle; Arena Racing Company, the Uttoxter and Lingfield operator; and the British’s horseracing authority, the ruling body of the sport.
Gambling in opportunity games is taxed at 21% of an operator’s gross profit, while betting duty – in career, sports and other events without a fixed margin for the operator – is set at 15%. There is an additional charge of 10% of Gross Profit for UK racing bets for statutory levy, which has returned racing money since the off-course betting was legal in the early 1960s.
The proposal to equal the rate of duty for betting and playing products has first floated the treasury during the last months of Rishi Sunak’s conservative government, but it has survived the transition to a labor administration and has been the subject of a consultation process that closed in July.
Betting and playing have been treated separately for taxable purposes since the Betting and Gaming Act began in 1961. There is a widespread career belief that a leveling of duty rates will make the sport more expensive for gambling operators and as a result, it is not so attractive -it is compared to gaming products with guaranteed return.
Substituents for the tax regime around gambling include a proposal from the Social Market Foundation Thinktank that the role of gaming can rise by 50% and sports estimates at 25%, with changes in the Levy system that ensures that the career will not disappear.
Former prime minister Gordon Brown also promoted for a significant increase in duty to be charged with fixed gaming-Margin products.
Launching the British horseracing authority’s campaign against last month’s tax measures, Brant Dunshea, BHA’s acting chief executive, said sport stakeholders were “unanimous in their opposition to Treasurery’s proposals to reconcile in remote gambling duties”. Dunshea added: “If the Chancellor delivers this tax bomb to the autumn budget, not only will the jobs lose but the future of Britain’s second largest spectator will be at risk.
After the Newsletter Promotion
“This is why it is important that the government carefully considers the argument made by all British career stakeholders and works next to us to protect a beloved national institution.” Careers lost on 10 September are expected to be added to other cards that are scheduled around the same time.
The date selected for the “Strike” career was 24 hours before the high -profile St Leger meeting of the Doncaster, Sir Keir Starmer, and his wife Victoria, an enthusiastic racing fan, attended last year.
