Duties

Gaming duties

From 1 April 2007 the 2.5% starting rate of gaming duty is abolished, the 12.5% rate increases to 15%, and a new rate of 50% is introduced on gross yield from gaming in excess of £10 million per accounting period.

The Remote Gaming Duty will be set at 15% of gross profits from gaming (receipts minus winnings) in line with the rate of General Betting Duty. It will apply to anyone who provides remote gaming under licence from the Gambling Commission.

Tobacco, alcohol and fuel duties

From 6pm on 21 March 2007, tobacco duty rates will rise in line with inflation. Duty on beer, still and sparkling wine, and cider will increase in line with inflation from 26 March 2007. Spirits duty is frozen. Main fuel duty rates will increase by 2p per litre from 1 October 2007.

Stamp taxes and duty

The rates and thresholds for stamp duty land tax (SDLT) remain unchanged. As noted in the Green Taxes section, the Chancellor announced a new relief for new zero carbon homes.

Anti-avoidance measures

The temporary anti-avoidance measures introduced to tackle schemes designed to avoid SDLT are to be made permanent. The effective date of a transaction caught by these measures may be earlier than the date of completion if the contract is ‘substantially performed’.