SolvedSection 11 | Rates of gaming duty.
From legislation.gov.uk
(1)For the Table in section 11(2) of the Finance Act 1997 (rates of gaming duty) there shall be substituted the following table—
| Part of gross gaming yield | Rate |
|---|---|
| The first £450,000 | 2½ per cent. |
| The next £1,000,000 | 12½ per cent. |
| The next £1,000,000 | 20 per cent. |
| The next £1,750,000 | 30 per cent. |
| The remainder | 40 per cent. |
(2)In section 11(3) of that Act (rate of duty for unregistered gaming), for “ 131/3per cent." there shall be substituted “ 40 per cent. ”
(3)This section has effect in relation to accounting periods beginning on or after 1st April 1998.