HMRC has updated and issued Notice 452 Machine Games Duty. The main changes are in paragraph 26 where examples and commentary have been provided.
This notice is relevant to anyone who:
The notice also continues to highlight the paragraphs that have the force of law under:
The following directions have the force of law under paragraphs 14(2), 14(5), 40(1) and 40(3) of Schedule 24 to the Finance Act 2012 (FA12):
Transitional provision - Accounting periods
(a) Transitional provisions apply to accounting periods allocated in respect of successful registration applications before 01/02/2013 (the start of MGD).
(b) In the case of successful registration applications before 01/02/2013, the start date for the Registered Person’s (RP’s) first accounting period will be 01/02/2013.
(c) All first accounting periods will be staggered as follows:
- Stagger A (2 months) - 01/02/2013 - 31/03/2013
- Stagger B (3 months) - 01/02/2013 - 30/04/2013
- Stagger C (4 months) - 01/02/2013 - 31/05/2013
(d) All second and subsequent standard accounting periods will cover three-monthly. calendar periods