Ladbrokes has another go at Tax regime

Ladbrokes telephone betting reported a loss in the first half of this year with net revenue down 41.3 percent (excluding high rollers) which the company blamed on the recession and offshore competition and as a result is planning to close one of its two call centres. The centre in question is located at Aintree and could put over 250 jobs at risk. Ladbrokes have started a three month consultation period with employees. The other call centre is at their headquarters in Harrow and employs around 140 staff. A company spokesperson took the opportunity to once again have a go at the UK tax regime explaining that UK based bookmakers are subject to 15% tax on gross profits plus a 10% levy to fund horseracing as well as VAT whist overseas companies often pay very low taxes and no horseracing levy making competing very difficult. Whilst not directly blaming the tax regime for the losses it is obviously still a very sore point. Rival William Hill who operate two call centres in Leeds and Sheffield have no immediate plans to close them according to Chief Executive Ralph Topping but when asked about relocation abroad he said “They’re still under review”, “we are looking at what we can do to improve their profits”. Seems like the move to offshore is not yet finished.