UK-owned bookie sets up in islands
Saturday 15th January 2011, 2:29PM GMT.
The Guardian newspaper criticised the UK government-owned bookmaker Tote yesterday for moving part of its operation to Guernsey as an attempt to avoid paying tax. (PA Pictures, 1077973)
UK GOVERNMENT-OWNED bookmaker Tote was criticised yesterday over plans to move part of its operation to Guernsey as an attempt to avoid paying tax.
The Guardian ran a negative article and tax campaigner Richard Murphy also attacked the move. Despite being fully owned by UK taxpayers, the Tote confirmed its plans to filter bets placed with third-party, offshore bookmakers, through its Guernsey operation, to sidestep income tax.
The Alderney Gambling Control Commission licenses operations within the sector that want to operate in the Bailiwick. No one from the commission would discuss the case yesterday. However, its website confirmed that the Tote’s local set-up, Totesport Alderney Limited, was registered.
- Read the full story in the Guernsey Press. See below for subscription details.
- To read Guernsey Press stories in full click here for subscription details. Individual editions are now available online.
Island Life
All about Guernsey
Ambassador of the Year 2011
History & Heritage
Visitor Information
Guernsey's government
Campaigns
Voice For Victims
Voice for Victims is a campaign aimed at promoting the rights of those affected by child sexual abuse.
This is Guernsey
Guernsey Press
Useful Links
Leaving the morality of gambling argument aside for a moment.
The timing of this article is rather strange. The UK Government have been trying to sell the Tote for a few years now – according to this article there are currently 10 bidders:
http://www.egrmagazine.com/news/867872/news-in-brief-10-bidders-for-tote-ongame-betsson-visionary-igaming.thtml
It would therefore seem likely that the UK taxpayer won’t be owning the Tote for much longer so this entire story is a bit of a non story really.
Moving the operation to Guernsey is likely nothing more than a sweetener by the Government to make the Tote more attractive to potential buyers.
Report abuse
No doubt this is a proposed move with tax advantages in mind
But just to prove there is nothing new under the sun there was feature on marmalade on Radio Guernsey this morning whereby I believe a Scottish firm Keeling? in 1856? set up a marmalade factory in Guernsey to take advantage of the lower tax on sugar in the island
They moved back to the mainland when the UK eventually lowered its own sugar tax rate
Report abuse