Finance Act, 1989
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Payments in respect of bets. |
42.—(1) Without prejudice to the provisions of section 24 of the Finance Act, 1926 , every bookmaker who makes, lays or otherwise enters into any bet, on or after the date of the passing of this Act, shall, at the time at which he receives payment of the amount of such bet from any person, require from such person an additional payment of an amount equal to the amount of the excise duty duly payable on the amount of that bet under subsection (1) (as amended by the Finance Act, 1985 ) of the said section 24 . | |
(2) A bookmaker shall not accept payment of the amount of any bet unless he receives with that amount the additional payment referred to in subsection (1). | ||
(3) A bookmaker making, laying or otherwise entering into a bet to which subsection (1) relates who— | ||
(a) fails or neglects to require, or purports (expressly or otherwise) not to require, the payment of the additional payment concerned, or | ||
(b) accepts, or purports (expressly or otherwise) to accept, payment of the amount of any bet in contravention of this section, | ||
shall be guilty of an offence under this section and shall be liable on summary conviction thereof to an excise penalty of £1,000. |