MGD: An extra £400k on your tax bill?

10/10/2011

The Mirror newspaper has run a story quoting William Bollom and claiming that the Machine Games Duty could kill off seaside arcades. The story follows a report released by Ernst & Young which says the new system could add another £400,00o to a typical operator’s tax bill.

“Arcade owners say the old system, which levies a charge for each gaming machine, plus VAT, works well. The new system would instead take a flat annual percentage of takings.

Trade association Bacta said: “The Chancellor says he wants to create jobs while finalising proposals that will kill hundreds of them.”

Will Bollom, 34, runs the Olympia Arcade – founded by his grandfather – in Weston–super-Mare, Somerset, but fears the business is at risk.

He said: “Most operators are traditional firms just like us. We are as much a part of the seaside as donkey rides.

“I have 15 staff. I don’t want to lose any but these changes will make things hard.”

 

 

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