The UK Gambling (Licensing and Advertising) Bill, which requires all operators serving British customers to be licensed by the Gambling Commission, received Royal Assent Wednesday.
UK-facing operators can file licence applications using an online service launched by the Gambling Commission in February this year, which is to become mandatory for all remote gambling licence applicants and companies applying for both online and land-based certification.
The new gambling legislation sees operators taxed at the point of consumption at a rate of 15 per cent from 2015, while all licensed bookmakers will also be required by law to contribute to the UK Horse Racing Levy.
Operators holding a British online gaming licence will be required to register with the UK tax authority HMRC online via a new service which is due to go live in Autumn 2014, and will have to make quarterly tax payments through the system.
Once the system launches, operators will have until December 1st 2014 to register, with guidance on how to do so set to be circulated before September. Failure to comply with the new tax rules will see offenders face unlimited fines or the loss of their iGaming licence