Posted: Wednesday, 2 January 2013 @ 11:36
HMRC have extended the deadline for registration for Machines Duty to 11 January 2013. All those responsible for premises which have dutiable gaming machines must register with HMRC by then or risk penalties of up to 100% of the duty payable.
The new tax comes into force on 1 February 2013. It replaces Amusement Machine Licence Duty and Output VAT on machine takings. Tax is payable on net takings. The Standard rate is 20%. The Lower rate ( for machines with a maximum stake of 10p and maximum payout of £8) is 5%.
Category B3A machines that play lottery style games are exempt, as are pull tab lottert ticket dispensers.
To see the HMRC guide click here
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Blog by Nigel Musgrove
Nigel has been providing dispute resolution advice as a solicitor for over 35 years. As well as advising SMEs and business owners on disputes he also offers a specialist licensing law service. View profile
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