Tax hike affecting betting shops

Bookmakers in the UK are facing a significant tax hike, with profits set to be reduced by up to 15%.

The change is due to the abolition of a scheme that allowed companies to pay a fixed tax rate of 20% on their profits.

Under the new system, bookmakers will be taxed at a rate of 21% on their profits, which will be calculated as a percentage of their gross profits.

This change is expected to have a significant impact on the industry, with many bookmakers warning of potential job losses and store closures.

Industry leaders have expressed concerns over the tax hike, with the Chief Executive of the Association of British Bookmakers, Michael Caselli, stating:

"This is a tax hike that will have a profound impact on our industry. It will make it more difficult for bookmakers to operate and will result in job losses and store closures."

Caselli added that the tax hike will also make it more difficult for bookmakers to invest in new technology and improve their services to customers.

The tax hike is set to come into effect in 2024, giving bookmakers a limited amount of time to adjust to the new system.

Industry insiders have warned that the tax hike could have a ripple effect throughout the industry, with some operators potentially being forced to close shops or reduce their services.

Author's summary: The UK's betting industry is facing a significant tax hike, with profits set to be reduced by up to 15%. This change is expected to have a profound impact on the industry, with potential job losses and store closures.

Racing Post — 2025-11-22

Tax hike affecting betting shops

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