Updated pool betting duty notice
HMRC have updated Notice 147 entitled ‘Pool Betting Duty’. The notice cancels and replaces the previous version published in April 2010.
The notice has been updated following the introduction of quarterly accounting periods for pool betting permit holders from 26 September 2010. This change will allow qualifying pool betting holders the option of completing one return per quarter instead of monthly.
The notice also covers the following main topics:
- Who is liable to pay pool betting duty
- Which bets and competitions are liable to duty
- When you must apply for a permit and about notifying us of your premises
- The rate of duty and how it is calculated
- Who has to account for pool betting duty
- What records and accounts must be kept
- HMRC’s legal powers