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Betting and Gaming Duties Act 1981
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F15 Net stake receiptsU.K.
(1)For the purposes of a charge under a provision of sections 2 to 4 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).
(2)Where—
(a)a person makes a bet other than a spread bet, and
(b)the sum which he will lose if unsuccessful is known when the bet is made,
that sum shall be treated for the purposes of subsection (1)(a) as falling due when the bet is made (irrespective of when it is actually paid or required to be paid).
(3)Where the amount of a person’s net stake receipts is zero or a negative amount, it shall be disregarded for the purposes of sections 2 to 4 [F2except as provided for by section 5AA] .
(4)In calculating an amount due to a person in respect of a bet, no deduction shall be made in respect of—
(a)any other benefit secured by the person who makes the bet as a result of paying the money,
(b)a person’s expenses, whether in paying duty or otherwise, or
(c)any other matter.
(5)Where a person makes a bet in pursuance of an offer which permits him to pay nothing or less than the amount which he would have been required to pay without the offer, he shall be treated for the purposes of this section as being due to pay that amount—
(a)to the person with whom the bet is made, and
(b)at the time when the bet is made.
(6)For the purpose of subsection (1)(b)—
(a)the reference to paying an amount to a person includes a reference to holding it in an account if the person is notified that the amount is being held for him in the account and that he is entitled to withdraw it on demand,
(b)the return of a stake shall be treated as a payment by way of winnings, and
(c)only payments of money shall be taken into account.
(7)In the application of this section to a charge under section 4(1) to (3), a reference to bets made with a person shall be treated as a reference to bets made by means of facilities provided by him.
Textual Amendments
F1Cross-heading and ss. 1-5D substituted (6.10.2001 with effect as mentioned in art. 2 of the commencing S.I.) for ss. 1-5 by 2001 c. 9, s. 6, Sch. 1; S.I. 2001/3089, art. 2
F2Words in s. 5(3) inserted (with application as mentioned in s. 6(6) of the amending Act) by Finance Act 2003 (c. 14), s. 6(2)
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