The Daily Mail in the United Kingdom has joined in the call for the punitive extra tax on Bingo Halls to be dropped. We are, of course, talking about the additional 5% tax that bingo halls pay compared to other forms of gambling if Bingo is considered gambling.
Bingo players can read the Daily Mail article, which points out the advantages of the proposed tax cut. The Government has been asked to cut the VAT rate from 20% to the rate of 15%, which all other forms of gambling games enjoy.
The new Point of Consumption tax will also provide HM Revenue with a new stream of income, meaning that all the offshore gambling companies will now have to pay UK tax on wagers made.
A considerable part of the UK Gambling industry has relocated to places like Gibraltar and the Isle of Man due to favourable tax breaks that companies enjoy. It will end with introducing the new tax, which will ultimately benefit the UK.
Companies like William Hill, who run the massively popular William Hill Bingo and Ruby Bingo rooms online, have relocated significant parts of their online operations to these tight areas in the last few years.
The result is that the UK public is the loser in this as no revenues and jobs get gained from the UK Bingo play. However, this is about to change, and rightly so. Another compelling argument within the article states that by levelling the tax playing field, Bingo Hall owners will be able to reinvest in their Clubs and grow the game’s popularity.
That would mean extra jobs and more players coming in, which boosts revenue even further for the taxman. But instead, it seems simple when adding up the numbers and seeing where the advantage lies. So please, Mr Osborne, do the right thing at the right time and heed the Boost Bingo call from members of the public and indeed from your party members.
The fact is that Bingo is a widely enjoyed social game that provides many people across the United Kingdom with entertainment. Taxing it unjustly is like killing the goose that laid the golden egg.