7 General betting duty: betting exchanges
Finance Act 2003 (2003 c 14) | Legislation

7  General betting duty: betting exchanges

(1)     Part 1 of the Betting and Gaming Duties Act 1981 (c 63) (betting duties) is amended as follows.

(2)     After section 5AA (inserted by section 6 above) insert—

“5

Betting exchanges

(1)     This section applies where—

(a)     one person makes a bet with another person using facilities provided by a third person in the course of a business, and

(b)     that business is one that does not involve the provision of premises for use by persons making or taking bets.

(2)     General betting duty shall be charged on the amounts (“commission charges”) that the parties to the bet are charged, whether by deduction from winnings or otherwise, for using those facilities.

(3)     No deductions shall be allowed from commission charges.

(4)     The amount

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