Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
The Curious Case Of Betting Taxation In The Uk: Lessons And Implications, Leighton Vaughan Williams
The Curious Case Of Betting Taxation In The Uk: Lessons And Implications, Leighton Vaughan Williams
International Conference on Gambling & Risk Taking
In 1926 the Chancellor of the Exchequer, Winston Churchill, introduced a tax on betting into the UK, claiming he was looking not for trouble, but for revenue. He got a lot of the former but very little of the latter, and the tax was repealed in 1930. Cash betting in licensed betting offices was legalised in 1960, and the taxation of betting was re-introduced in 1966, based on turnover. In 2001, this turnover system of taxation was abolished and replaced with a tax on ‘gross profits’. The effective incidence of the tax was significantly lower than the tax it replaced, …