The Horserace Betting Levy Board is a UK statutory body required by primary legislation to collect a statutory Levy from bookmakers and betting exchange providers (Operators).
The Levy is charged at the rate of 10% of the amount by which an Operator's profits (calculated in accordance with s.27A of the Betting, Gaming and Lotteries Act 1963) on leviable bets for the Levy period exceed the exempt amount of £500,000. A leviable bet is defined in s.29A(1) of the 1963 Act as a bet which relates to horseracing in Great Britain when the bet is made.
Notes providing guidance relating to the assessment and collection of monetary contributions from operators, with reference to the provisions in the Betting, Gaming and Lotteries Act 1963 and the Horserace Betting Levy Acts 1969 and 1981 as amended by the Horserace Betting Levy Regulations 2017, can be found here.
These notes are aimed at providing practical assistance and operators should in the first instance refer to the relevant legislation which sets out the statutory requirements regarding payment of the Levy. These notes should be read in conjunction with that legislation.