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PartyT
Administrator
USA
20695 Posts |
 Posted - 08/03/2009 : 1:42:07 PM
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William Hill set to lead the field offshore
Bookmaker William Hill will reveal this week that its online sportsbook business will be moved to Gibraltar, but its telephone operations will remain in the UK.
In a blow for the Treasury, the move is likely to prompt rivals Ladbrokes and Coral to follow suit, as they attempt to prevent William Hill gaining a competitive advantage from lower tax bills on offer for businesses based in the territory.
Online groups based offshore pay about 1.5pc tax compared with 15pc at UK-based groups such as William Hill and Ralph Topping, the chief executive, has long argued that the tax environment gave offshore groups the edge. Sky Bet last week became the latest to take advantage of the offshore tax benefits by moving its sportsbook operation.
By Garry White
Published: 9:45PM BST 02 Aug 2009
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5961456/William-Hill-set-to-lead-the-field-offshore.html |
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William Hill set to lead the field offshore
