Clause 6 - General betting duty
Finance Bill
5:00 pm
Mr Jimmy Hood (Clydesdale, Labour)
With this, with the agreement of the Committee, we will consider schedule 1 and the following amendments: No. 2 in page 84, line 30, leave out `3' and insert `2'.
No. 3 in page 84, line 33, leave out `10' and insert `8'.
No. 4 in page 85, line 23, leave out first `to' and insert `or'.
No. 5 in page 85, line 32, at end insert:
`(1A) For the purposes of a charge under a provision of section 3 in respect of the class of bets to which the provision applies, the amount of a person's net stake receipts for an accounting period is X minus Y, where—
(a) X is the aggregate of amounts which fall due to that person in the accounting period in respect of bets of that class made with him, and
(b) Y is the aggregate of amounts paid by the person in that period by way of winnings to persons who made bets of that class with him (irrespective of when the bets were made or determined) minus any losses incurred in the previous accounting period.'.