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British MPs Support Tax Cuts for Bingo in the UK

bet on sports in the UK - GamingZion

As a measure to stop the number of hall closures across the UK, a group of British MPs is calling for a cut in gambling taxes on bingo in the UK.

Under the present UK gambling laws, bingo halls are required to pay a 20% tax on their profits, which is a much higher rate than for lottery tickets (12%) and bookmakers (15%).

Because of this difference in the tax rates, the lobby group the Bingo Association is asking for bingo to be brought in line with other forms of gambling in the market.

With the current budget cuts, the government is reluctant to reduce the bingo hall tax rate, however the Bingo Association argues the tax difference between fixed odds betting, lottery ticket sales and betting on sports in the UK and bingo is contributing to the closure of bingo halls.

With a closure rate of once per month, British MPs back the calls for a cut in tax for bingo halls

The rate of bingo hall decline is shocking, since statistics show that UK bingo halls are closing at a rate of once per month. This decline in numbers has caused many to lose their jobs.

The current tax is a threat to these clubs, which according to the Bingo Association help bring people in the local community together.

The Bingo Association also went on to say that the bingo industry is being stifled, since clubs are unable to reclaim VAT on the costs for refurbishment and upkeep.

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