Gross gaming yield (GGY) bands for gaming duty for UK casino operators are set to be increased for accounting periods starting on or after 1 April.
The government confirmed the measures as part of the 2016 UK budget.
The current bands are set out by the Finance Act 2015, where tax rates range from 15% to 50%, with 15% being paid for the first £2.3m GGY.
From then on, the tax increases 20% for the next £1.6m, 30% for the next £2.8m, 40% for the next £5.6m and 50% for the remainder.
It has not yet been revealed what the specific increases will be, but the changes will be made clear in the Finance Bill 2016 and will be in line with retail price index for accounting periods starting on or after 1 April.
Operators liable to pay the duty will need to submit two returns, with the first being an interim return after three months and the second being a full return at the end of a six-month accounting period.
Gaming duty applies to casino operators only and is one of a number of ways that tax measures for the UK gambling industry are broken down.
GGY bands are set to go up, but the government has not mentioned any potential increase in tax rates.
This could be welcome respite for the operators, who have had to deal with the introduction of a 15% tax on remote gaming duty (RGD) as of December 2014.
The budget also outlines that the tax treatment of free gambling within RGD will be brought in line with general betting duty, which is paid by UK bookmakers, from 1 August 2017.
DISCUSS THIS ARTICLE