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.