Gavin Hinks, Accountancy Age, Tuesday 27 July 2010 at 09:16:00

Gibraltar becomes new home for gaming company seeking competitive taxposition


Betting shop chainWilliamHill is to move its telephone betting operations to Gibraltar in a bid toimprove its tax position.

Chief executive Ralph Topping, said in a statement: ?This significant changeto our telephone business is a response to the challenge of competing withbetting exchanges and offshore telebetting operators, all of whom havebenefitted from significant cost and tax advantages over UK bookmakers. This hasmade it impossible for our existing business to compete profitably from the UK.?

Last year William Hill paid 265m in tax.

Reports in the Daily Mail say the move could mean 160 redundancieswith a further 200 jobs under threat as the business goes into a 90-dayconsultation period.

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