New gaming machine duty comes into force today

By Gurjit Degun

- Last updated on GMT

Related tags: Game, Slot machine, Hmrc

The new tax regime for operating gaming machines came into effect today and licensees who have not registered could face a penalty.

Licensees should register with HM Revenue & Customs (HMRC) as soon as possible if they continue to operate the machines.

Machine Games Duty will be charged where customers pay to play a game on a slot, quiz or other machine in the hope of winning a cash prize which is greater than the cost to play. It replaces both Amusement Machine Licence Duty (AMLD) – an annual charge for making a gaming machine available for play – and standard-rate VAT on net takings. HMRC said it means tax on machine games will now be entirely linked to takings, rather than including a fixed fee element on all machines.

Under the new regime, businesses must keep certain records, including: bank statements; takings records, and relevant business correspondence.

The quickest way to register is via the MGD Online Registration Service www.hmrc.gov.uk/machinegamesduty/mgd-online.htm

Related topics: Legislation

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