海角大神 (BHA) has today submitted the sport鈥檚 formal response to HM Treasury鈥檚 consultation on remote gambling duties, outlining racing鈥檚 opposition to harmonisation and calling for British horseracing to be taxed at a different and lower rate to all other forms of betting.听听
A tax hike for bookmakers on racing betting in the Autumn Budget would be the third leg of a triple whammy of financial threats caused by Government policies, including affordability checks on racing bettors and a lack of Levy reform, which jeopardise the future of the sport in Britain.听听
Economic analysis shows that racing could lose at least 拢66m of income a year under the proposals which would see horseracing taxed at the same rate as online games of chance. In a worst-case scenario, the sport could lose 拢160m of income a year.听
This would put thousands of jobs at risk and severely impact towns and rural communities across the country. It would also hamper British racing鈥檚 world-leading work on equine welfare.听
In calling for a tax carve out on racing betting, the sport鈥檚 submission outlines the precedent for horseracing receiving individual treatment in the tax system, with operators already paying a unique tax on British racing in the form of the Horserace Betting Levy. Racing鈥檚 dependence on revenue from betting is also already recognised in the tax system which sees the sport taxed at a lower rate than online games.听
Today鈥檚 submission comes ahead of the Treasury鈥檚 public consultation deadline on Monday (21 July). Treasury civil servants will review responses in the coming weeks before making recommendations to ministers. It is expected that Treasury ministers will make a final decision on whether to press ahead with plans to harmonise remote gambling duties ahead of the Budget, expected in October.听
The submission has the backing of British racing鈥檚 key stakeholder groups including the Jockey Club, Arena Racing Company, the Racecourse Association, the Racehorse Owners Association and the National Trainers Federation.听
Later this month the BHA will spearhead the sport鈥檚 public Axe The Racing Tax campaign, which will invite racing fans and members of the public to get involved with the sport鈥檚 opposition to the Government鈥檚 proposals.听
Last week the BHA led a call for everyone involved in the sport to play their part by writing to their local MP to call on Ministers to urgently rethink proposals. This followed a commitment by Treasury Minister James Murray MP to work with the horseracing industry to avoid unintended consequences arising from the proposals and to seek mitigations.听
Brant Dunshea, Acting Chief Executive of the British Horseracing Authority, said:听
鈥淏ritish racing鈥檚 stakeholders are united in their opposition to the Treasury鈥檚 proposals to harmonise remote gambling duties.听
鈥淗orseracing has a uniquely symbiotic relationship with betting and the Government must recognise this. It is why we are calling for betting on racing to be taxed at a different and lower rate to all other forms of betting.听
鈥淭housands of jobs and livelihoods in towns and rural areas across the country are supported by the financial contributions of the betting industry through Levy, media rights and sponsorship.听
鈥淚f the Chancellor delivers this tax bombshell at the Autumn Budget, not only will jobs be lost but the future of Britain鈥檚 second-largest spectator sport will be in jeopardy.听
鈥淭his is why it is vital that the Government carefully considers the argument made by all British racing鈥檚 stakeholders and works alongside us to protect a cherished national institution.听听
听鈥淲e are also urging fans of the sport to write to their MP to ask them to put pressure on the Chancellor to Axe The Racing Tax and our campaign will be reaching wider audiences in the months leading up to the Budget.鈥�听
Notes to Editors:听
- HM Treasury鈥檚 proposals on remote gambling duties can be accessed here: 听听
- Instructions for members of the public to write to their MP asking for their support to Axe The Racing Tax can be found on the BHA鈥檚 website: /play-your-part-in-the-axetheracingtax-campaign/听
