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BHA urges Treasury to set lower betting tax rate for racing

Regulation

The British Horseracing Authority submitted a response to HM Treasury’s remote gambling duty consultation, calling for racing bets to face a lower tax rate than other forms of gambling. The BHA said harmonisation could cost racing at least £66m a year and up to £160m in a worst-case scenario. Ministers are expected to decide on the proposals ahead of the Autumn Budget in October.

The proposal could change betting operators’ tax costs and the funding flowing to British racing.

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UK Treasury raises remote gaming duty to 40% as racing warnings emerge

The UK Treasury increased remote gaming duty from 21% to 40% in the Autumn Budget, while excluding racing bets from a planned rise in remote betting duty, according to reports. DCMS officials reportedly warned that the proposed protection for racing would have limited effect without reform of the Horse Racing Betting Levy. The Office for Budget Responsibility projected about GBP 1.1 billion in revenue from the new gambling taxes.

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