THE LEVY EXPLAINED.
- The 43rd Levy Scheme (Apr 1, 2004 - Mar 31, 2005) is calculated by reference to the gross profit on British horserace betting business.
- For licensed betting offices or media platforms showing a gross profit on British horseracing of more than pounds 75,000 per year, a flat ten per cent charge of gross profits will apply.
- Lesser charges will apply to any licensed betting office/media platform with gross profits of less than pounds 75,000 on horseracing.
- The levy for on-course betting is charged at six per cent of gross profits, with a system of lesser charges for a business showing a gross profit of less than pounds 75,000.
- British horserace betting business on telephone and the internet is charged at ten per cent of gross profits. The levy payable by bet-brokers, including betting exchanges on British horserace betting business, is the amount equivalent to ten per cent of their gross profits.
- Spread betting business is charged at two per cent of gross profits.
- Anyone conducting British horserace betting business on point-to-point and/or harness racing and/or trotting events will pay a fixed contribution of pounds 138.
- For the 43rd levy period, the Tote should contribute as if it were a bookmaker in respect of off-course SP and Tote odds, cash, internet and telephone horserace betting business and, additionally, in respect of Tote Direct, at the rate of ten per cent of gross profits.
|Printer friendly Cite/link Email Feedback|
|Publication:||The Racing Post (London, England)|
|Date:||Nov 11, 2004|
|Previous Article:||Three to Watch.|
|Next Article:||THE BHB v WILLIAM HILL.|