NEW FRUIT MACHINE GAMING TAX
There are as always a lot of changes for pub & clubs , the one relating to your fruit machies is the new gaming tax on fruit machines MGD ( Machine Games Duty)They are removing fruit machine custom & excise licences and also the money in the cash box will no longer be applicable to VAT.
All we need is you name and business address as we are fully mgd registered
We work with our fruit machine customers to get them to fill them in and then submit the forms ourselves so that we can make sure that they are all registered and able to understand what they are going to need to do. With this in mind I urge you to speak with your fruit machine supplier about this or go to HMRC’s website after the 1st November 2012 and look at and print off the necessary forms.
The new MGD tax has been set at two different levels, for fruit machines, Category C, which is any fruit machine with a jackpot over £8 cash and more to play than 10p (which most pub/club fruit machines are) then the tax rate is 20% of the net take of the fruit machine. The second tier is for fruit machines category D, this is any machine with a £8 cash jackpot and no more than 10p play, the new tax rate is 5% of the net take of the fruit machine.
WE LEAVE THE TAX MONEY WITH YOU TO PAY AT YOUR LEISURE TAKES 5 MINS TO REGISTER FOR FREE please follow link below
As I mentioned earlier as of 1st February 2013 you will no longer need an AMLD (Amusement Machine Licence Duty)
On the positive side, you can now trial extra fruit machines with no fixed cost, so where before you perhaps were thinking of trying a second or third fruit machine but due to the cost of the £900 for a customs and excise licence decided not to, you can now have an extra fruit machine installed and we only pay any tax if the machine earns money.
Also, just to clarify fruit machines will no longer be vat-able on the cash box take. So it is just the MGD tax at 20% (if a £70 machine) that you pay to HMRC. Whilst this rate is the same as you previously pay under VAT, none of the MGD tax is reclaimable and as with all things these days this will burden the pubs, clubs and machine operators with more paperwork and red tape which all adds up to more cost.
SO WHY NOT TRY A EXTRA MACHINE EVEN IF YOU ALREADY HAVE ONE YOU CAN TRY A SECOND MACHINE FROM US AT NO COST TO YOURSELF
YOU HAVE NOTHING TO LOSE BUT ALOT TO GAIN. SEE OUR ROULLETE MACHINES
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