# Finance Act 2014, Section 135: General betting duty charge on Chapter 1 pool bets


(1) General betting duty is charged on a Chapter 1 pool bet made with a bookmaker.
(2) It is charged at the rate of 15% of the bookmaker's profits on Chapter 1 pool bets for an accounting period.
(3) The bookmaker's profits on Chapter 1 pool bets for an accounting period are the aggregate of—
(a) the amount of the bookmaker's profits for the period in respect of pooled stake Chapter 1 pool bets (calculated in accordance with section 136), and
(b) the amount of the bookmaker's profits for the period in respect of ordinary Chapter 1 pool bets (calculated in accordance with section 137), and
(c) the amount of the bookmaker's profits for the period in respect of retained winnings on Chapter 1 pool bets (calculated in accordance with section 138).
(4) Where the calculation for an accounting period under subsection (3) produces a negative amount—
(a) the bookmaker's profits on Chapter 1 pool bets for the accounting period are treated as nil, and
(b) the amount produced by the calculation may be carried forward in reduction of the bookmaker's profits on Chapter 1 pool bets for one or more later accounting periods.

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Source: https://www.legislation.gov.uk/ukpga/2014/26/section/135 (the official version)
Page: https://openlegislation.uk/finance-act-2014/section-135
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.