Section 148 — Finance Act 2014: Chapter 2: stake money

Chapter 2: stake money 148 1 For the purposes of this Chapter the stake money on a bet is the aggregate of the amounts which fall due in respect of the bet.

2 If the stake money falls due to a person other than the bookmaker with whom the bet is made, it is to be treated as falling due to the bookmaker.

3 Any payment that entitles a person to make the bet is, if the person makes the bet, to be treated as an amount falling due in respect of the bet.

4 All payments made—

a for or on account of or in connection with the bet, b in addition to amounts falling due in respect of the bet, and c by the person making the bet, are to be treated as amounts due in respect of the bet except so far as the contrary is proved by the bookmaker whose profits on the bet are being calculated.

5 Subsections (6) and (7) apply for the purposes of subsection (1) but have effect subject to any regulations under subsection (8).

6 Where—

a a person makes a bet, and b the bet relates to a single event, or to two or more events taking place on the same day, any sum due to the bookmaker in respect of the bet is treated as falling due on the day on which the event or events take place.

7 Where—

a a person makes a bet, and b subsection (6) does not apply, any sum due to the bookmaker in respect of the bet is treated as falling due when the bet is made.

8 The Commissioners may by regulations make provision as to when any sum due to the bookmaker in respect of a bet is to be treated as falling due.

9 Provision made by regulations under subsection (8) may not provide for a sum due to the bookmaker in respect of a bet to be treated as falling due—

a earlier than when the bet is made, or b later than when the bet is determined.