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Of stakes and prizes and taxes!

Two interesting points have arisen from a speech given by Tourism Minister John Penrose at the BACTA Annual General Meeting.

The first is that there is a suggestion that the Government will look to reinstate the triennial review of stakes and prizes for gaming machines that used to be in place prior to the reform of Gambling under the Gambling Act 2005.

The Minister said:

"I'll be writing shortly to all members of the industry asking for their feedback on what the review should look like and the best process to follow."

The second point is a follow up to a matter we have updated on previously and arises out of the controversy over Skills with Prize machines (AWPs) and AMLD. Minister John Penrose announced the Government's intention to publish their conclusions to the consultation on Gaming Machine Duty (GMD) on the 6th December with the new rate to be set in the 2012 Budget. This it is hoped will give some clarity on this issue which has been ongoing for some considerable time.

It appears the initial proposal to have 2 rates/tiers of GMD has been dropped, according to reports from the HMRC. Whether this is for a simpler system of 1 rate or 2+ tiers is not yet clear. We shall keep you informed.

Watch this space!