Section 11 Rates of gaming duty.

For the Table in section 11(2) of the M1Finance Act 1997 (rates of gaming duty) there shall be substituted the following table—

“

Table

Part of gross gaming yield	Rate
The first £450,000	2½ per cent.
The next £1,000,000	12½ per cent.
The next £1,000,000	20 per cent.
The next £1,750,000	30 per cent.
The remainder	40 per cent.

”

In section 11(3) of that Act (rate of duty for unregistered gaming), for “ 131/3per cent." there shall be substituted “ 40 per cent. ”

This section has effect in relation to accounting periods beginning on or after 1st April 1998.