On 10th October, the Department for Digital, Culture, Media and Sport published a news release detailing the proposal to reduce administrative inconveniences and financial costs on those affected by the Levy.  The draft Order will transfer responsibility for Levy assessment, collection and enforcement to the Gambling Commission, and pass responsibility for application of Levy funds to a body to be designated by the Secretary of State from April 2019. The reforms will result in the closure of the Horserace Betting Levy Board.  The draft Order was laid before Parliament on 9th October.  The Board was established in 1961 and is required to assess and collect a statutory levy from the gross profits of bets taken on British horseracing.  People forget that the levy was introduced to offset the decline in race day revenue for the racing industry following the legalisation of bookmakers’ off-course operations, which had meant that people wishing to place a bet on a horse race no longer needed to attend the racecourse.  The 10% levy now also extends to offshore online bookmakers – which significantly boosted the Board’s income.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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