1 December 2012 | Uncategorized
If you are a pub, club or hotel are you ready for the new Machine Games Duty?
This replaces Amusement Machine Licence Duty, and comes in from 1 February 2013. You are required to be registered before that date, and we have already registered the majority of our affected clients.
In most cases, MGD will apply at 20% on the takings as calculated and reported to the hotelier by the machine supplier; but the onus is still on the hotelier/publican to maintain the correct records.
However, these takings will now be exempt from VAT which means that the VAT Partial Exemption rules may apply, which might result in you not being able to recover all the VAT you pay. It is important that systems are put in place early, and that anyone who may be affected by the Partial Exemption rules take professional advice art the earliest opportunity.
Further information can be found on the Inland Revenue web site.
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