Rachel Reeves confirms online gambling tax hike
Rachel Reeves confirmed a tax increase on online gambling from April, expected to raise over £1 billion annually.Summary
Rachel Reeves has confirmed an increase in the tax rate for online gambling, set to take effect from April 2026, with the aim of raising over £1 billion a year for public services. The Chancellor’s decision, initially outlined in the Budget, will raise duties on online betting and gaming while exempting horse racing and bingo halls. HMRC stated the increase is due to the rapid growth of online gambling and its associated social harms. The remote gaming tax rate will increase from 21% to 40% in April 2026, and the remote betting rate will rise from 15% to 25% in April 2027. This move follows pressure from the Treasury Committee, which argued for higher taxes on online gambling to reflect the harm it causes, rejecting industry claims to the contrary. Dame Meg Hillier, chair of the Treasury Committee, hailed the decision as a “victory for common sense.”
(Source：Daily Express)