Section 157 — Finance Act 2014: Profits on ordinary gaming
Text of the provision Official document
Profits on ordinary gaming 157 1 To calculate the amount of a gaming provider's profits for an accounting period in respect of ordinary gaming—
a take the aggregate of the gaming payments made to the provider in the accounting period in respect of ordinary gaming, and b subtract the amount of the provider's expenditure for the period on prizes in respect of such gaming.
2 The amount of the gaming provider's expenditure on prizes for an accounting period in respect of ordinary gaming is the aggregate of the value of prizes provided by or on behalf of the provider in that period which have been won (at any time) by chargeable persons participating in ordinary gaming.
Official source: legislation.gov.uk
Search case law on this topic
See judgments from UK courts and tribunals with a plain-English summary and legal holding.
Explore case law →