Bingo tax punishes Wokingham business

 

         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.

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One Comment

  1. Lord Blagger
    Posted June 7, 2012 at 3:06 pm | Permalink

    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?

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    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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