BHB has given a firm commitment that, from 1st May 2002, it will allow bookmakers to offset payments under the 41st Levy Scheme (2002/03) against commercial payments made to BHB, from the date a Licence is in place with BHB.
KPMG advice that VAT will only be payable on the difference between the two payments has now been confirmed by Customs & Excise.
BHB Chairman Peter Savill said today: “This is excellent news for bookmakers. It is disappointing that bookmakers’ trade associations have been telling us and their members that KPMG’s advice was wrong and that bookmakers would have to pay VAT on the full amount of BHB’s charges. It must be depressing for bookmakers to be constantly provided with inaccurate advice by their leaders which has the potential to impact their business so adversely.”