Press Release / Games & Entertainment / Chips.co.uk reacts to news of overhaul on tax legislation for offshore gambling operators

Chips.co.uk reacts to news of overhaul on tax legislation for offshore gambling operators

Cheshire, United Kingdom (26th January 2013) - Free betting comparison website Chips.co.uk has reacted to news that the UK government is set to review the licensing criteria for British offshore gambling operators.

It was reported by Tax-News.com in late 2012 that the government had published a “long anticipated” draft legislation that will introduce new licensing requirements on services provided to British consumers based upon a location of consumption basis, rather than place of supply basis. It will be one of the first major amendments to the Gambling Act 2005 introduced by the then Labour government, which allowed operators to advertise its goods and services on television, as well as prompting many of the UK’s leading companies to move its operations to offshore British locations for lower taxes.

Currently, companies that operate in so called “white-listed jurisdictions “ such as the Isle of Man, Alderney and Antigua, as well as British overseas territories like Gibraltar, are licensed by the European Economic Area (EEA) but can advertise in the UK using these European licenses, rather than having to be licensed by the UK Gambling Commission. This will be changed under the new legislation, as well tackling tax issues. All wagers placed in the UK will be subject to British tax regulations, regardless of whether or not it was placed with an operator based in the UK or abroad.

Chips.co.uk works as an affiliate to many of the UK’s leading online bingo, poker, casino and bookmakers’ sites. Of these companies, a large percentage of them operate out of locations such as Gibraltar and “white-listed jurisdictions.”

“We enjoy a fantastic working relationship with all of the companies that we work with, helping us to provide our customers with a comprehensive free betting comparison service,” said Matt Bullas, the entrepreneur behind Chips.co.uk. “We will continue to monitor this news whilst continuing to enjoy a fruitful relationship with all of our partners. This will also ensure that we are offering all of our loyal customers a truly first class betting service.”

For more information about all of the offers available, visit http://www.chips.co.uk.

About Chips.co.uk:
Launched in 2012, Chips.co.uk is a free betting comparison website that compiles all of the latest free bet welcome bonuses and incentives. Working with the UK’s leading online operators, Chips.co.uk can help online punters to make an informed decision before signing up to a new site, where they can then claim their free bet. Chips.co.uk also has regular competitions and a dedicated blog on all of the latest betting news.

Contact Chips.co.uk:
Matthew Briggs
Unit B1, Willow House
Oaklands Office Park
Hooton Road, Hooton,
Cheshire, UK
Zip: CH66 7NZ
Tel: 0845 017 8094
Email: help@chips.co.uk
Web: http://www.chips.co.uk/