UK gross gaming yield bands to increase

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The British Chancellor of the Exchequer Rishi Sunak has announced the fiscal 2020 year budget starting on April 1, with some unsurprising changes for the gaming industry.

As part of his March 11 speech in the House of Commons, Sunak announced the government will legislate in the Finance Bill 2020 to raise the gross gaming yield bandings for gaming duty in line with inflation. The duty is set to increase on April 1 as part of the new accounting period in the new financial year.

There were no other specific notifications for the gaming and igaming industry. However, as part of the plans, business rates for shops earning less than £51,000 per annum would be abolished in the short term due to the ongoing coronavirus outbreak.

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