Hundreds of high street 'slot farms' could continue claiming a discount on their business rates, unless the government closes a loophole that allows them to pose as bingo halls. The loophole has been exploited by many shops owned by Merkur and Admiral, with some venues advertising bingo in their shop windows but offering mainly slot machines inside.
High street 'slot farms' may evade tax rise through bingo hall loophole
UKPulse News DeskHundreds of adult gaming centres in England have bingo licences that still qualify them for discounted business rates.
- John Healey increased duty on slot machine takings from 20% to 25% in his first budget this week.
- Adult gaming centres and vape shops are no longer eligible for a discount on business rates aimed at leisure and hospitality businesses.
Why this matters: The tax tweak aims to support good growth on every high street, but the loophole could allow many shops to escape the tax increase.
What this means for you: If you own a business on the high street, you may be affected by the changes to business rates and tax laws.