$ £

UK Online Gambling License/Tax Plan Passes Second Parliament Reading

A bill that would require all internet betting firms wishing to offer their services to UK players to apply for British licensing and pay taxes has passed through its second reading in front of the British parliament and will almost certainly be passed into law.

The bill would require online operators to obtain in-country licensing as well as pay taxes on revenues generated from UK punters. Currently may UK facing firms reside offshore in an attempt to skirt paying higher taxes in-country.

The measure has support among all parties, and looks like it will be passed into law by the end of the year, and will likely see a sizable amount of tax generated for the UK's coffers.

While no official timeframe has been given for UK transitional licensing for offshore companies already offering betting services within the country, it is thought that they may be available in the second quarter of 2014.

Share this