Section 147 — Finance Act 2014: Profits on retained winnings on Chapter 2 pool bets

Profits on retained winnings on Chapter 2 pool bets 147 1 The amount of a bookmaker's profits for an accounting period in respect of retained winnings on Chapter 2 pool bets is the aggregate of the amounts which cease to be qualifying amounts during the accounting period.

2 An amount is a qualifying amount for the purposes of this section if, as a result of a person (“P”) being notified as mentioned in section 149(2)(b), it has been taken into account in calculating the bookmaker's profits for any accounting period under section 145 or 146.

3 An amount ceases to be a qualifying amount for the purposes of this section if, otherwise than by virtue of being withdrawn by P as mentioned in section 149(2)(b), P ceases to be entitled to withdraw it.

4 The Commissioners may by notice published by them direct that subsection (3) is not to apply in a specified case or class of cases.