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UK New point of consumption Tax law kicked in January 2015

F November 30, -1
UK New point of consumption Tax law kicked in January 2015

From January 2015, a new law came into force affecting the online bingo industry, and changing the way gambling is taxed.

Essentially, the taxman is altering how providers are taxed, from “place of supply” to “point of consumption.” So operators are liable for a number of duties if remote gambling such as online bingo is offered to someone whose main residence is in the UK. (Previously, those supplying the UK from outside the country did not pay these taxes.)

But it also means that UK-based operators supplying remote gambling to those who are usually based outside the country will no longer pay certain gambling taxes on those transactions.

These include General Betting Duty (GBD), and Remote Gaming Duty (RGD).

However, it seems that for most regular players, not much has changed as a result. If anything, brands have upped the ante on their welcoming offers in recent weeks, since the changes became law on December 1.

The festive season has certainly been in full swing, with a plethora of promotions from top UK bingo brands for Christmas time, including PaddyPower Bingo and a virtual office party at Tidy Bingo, offering all the fun of a work night out with none of the shame, embarrassment or hangovers the following morning!

There were also plenty of festive logos to be seen, as the various bingo brands decked their virtual halls. One brand in particular that is doing a lot of shouting is 888 Ladies, which took to a TV ad to broadcast their new improved bonus. Formerly, newbies to this site had access to their own room for a few days, without having to pay a deposit, and a 250% cashback bonus on first deposits from £5 up to £100. They’ve now changed that to make it a 500% offer to novices who have made their first deposit to the brand. Access to the Newbie Room remains pretty much unchanged, lasting for three days from registration. And there are no-charge games every daily between 7am and 10pm.

So we’re pleased to see that it looks like it’s business as usual for players, new tax laws or not.

 

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