The UK Government’s Department for Digital, Culture, Media and Sport (DCMS) closed its consultation last week covering changes to administering the Horserace Betting Levy.
The aim of the consultation was to reduce financial and administrative burdens on the betting and horseracing industries.
Key points of the proposal included:
Collection and enforcement of the Levy would be transferred to the UK Gambling Commission.
Expenditure decisions and Levy distribution to the racing industry would be transferred to a nominated body – representative of the British racing industry.
The HBLB would be shuttered following the transference of these responsibilities.
The new system is expected to come into force on April 1, 2019.