I called in to Gala Bingo in Wokingham today at their request. They told me that the 20% tax on gross profits that now applies to bingo is penal, and doing damage to their business. Other forms of gambling face a 15% tax.
Wokingham’s bingo facility is hit by unrelieved VAT and by the bingo profit tax. This is making it difficult for the business, which aims to give a good value afternoon or evening out for those who fancy a game and a meal. They would love more people to support them. Meanwhile, I will take their case up with the Chancellor. It is important not to overdo tax rates, for fear of damaging the very businesses that pay the revenue to the Treasury.
June 7, 2012
Back to the debt again.
You won’t do austerity – spending is up
Debt growing exponentially – 500 bn total increase last year alone.
Tax revenues – static or falling.
It’s a bust.
Now a director who carries on trading whilst insolvent is a fraudster.
What’s the equivalent for a politician?