|Budget 2009 Commentary|
|Temporary return of first year allowances|
|Another year to carry losses back|
|Tipping the cashflow scales|
|Carbon-based company cars|
|Further obligations for internal company accountants|
|Preferring to be part of a group?|
|A simple option for VAT on property|
|2010 - a big year for football and VAT|
|Connected companies' loans|
|Developments on the green horizon|
|Foreign denominated losses|
|Gambling with the rules|
|Rates and limits|
|HMRC becomes more powerful|
The Chancellor announced a number of changes which will affect the Bingo and Gaming industries.
Participation fees for playing bingo and other games of chance will become exempt from VAT. This will apply to all fees received on or after 27 April 2009 and will remove the differential treatment between fees charged for on-line gaming and other terrestrial forms of gaming.
The change will benefit the bingo industry in particular - not least by removing uncertainty and distortion. However, it will mean that businesses that benefit from the change will see a reduction in the amount of VAT that they are able to recover.
The other change announced affects Bingo Duty, which will increase from 15% to 22% with effect from 1 June 2009. The prize limit for Bingo Duty exemption will also increase from £50 to £70 with effect from 1 June 2009.
Remote bingo will become subject to remote gaming duty instead of bingo duty with effect from 1 July 2009.