22 Oct 2003 Pre-2014 Releases

Following toda?_x0019_s announcement by the Levy Board, BHB Managing Director, Commercial, Nigel Smith said:

“A 6% gross profits levy for the forthcoming 43rd Levy Scheme (2004/5) is both disappointing and mystifying, as this will leave on-course bookmakers worse off than under the current situation.

“The BHB Board has considered its policy with regard to on-course bookmakers on a number of occasions and re-endorsed as recently as September its policy of charging 10% of gross profits to on-course bookmakers for the use of its data.

“The direct consequence of the 6% levy will be that on-course bookmakers will have to pay VAT on the difference between the levy and the BHB charge. This creates a total charge of 10.7%.

“I outlined this very situation in an open letter to John Stevenson, Chairman of the National Association of Bookmakers, in the Racing Post earlier this month. I am disappointed that many of the on-course bookmakers we have contacted were unaware of either the proposals, or their impact.

“No doubt Mr Stevenson will be able to explain to his members why they will have to pay more in aggregate than needed to be the case.”