Alderney Gambling has held a seminar in regards to the proposed changes to UK VAT legislation.
The occasion was an opportunity to discuss the Use and Enjoyment provisions which featured in the recent UK budget announcement and which may impact on the irrecoverable VAT suffered by VAT–exempt businesses based outside the UK, if introduced. It is likely that a consultation process will be conducted in advance of implementing any changes.
Susan O’Leary, Alderney’s director of e-commerce, said: “Alderney has always been a very cost-effective base for online gambling operators who benefit from the most competitive fiscal environment. As a world-leading jurisdiction it is important to us to employ best practice and explore any potential changes to our unique position.
“It is not certain that any changes will be made to existing Use and Enjoyment rules that could have an impact on operators licensed in Alderney.
“If changes are to be introduced, then the process will likely take a number of years. Furthermore, we believe this period of time will allow businesses significant opportunities for growth.
“The best advice we can give to operators considering taking advantage of what Alderney and Guernsey offer is to be compliant and plan ahead.”
