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15 July 2008
Bookmakers who gambled on their pitches having a lasting value may lose out, as ROBERT TUNSTALL explains
KEY POINTS
- The development of the pitch lists system
- Pitch positions; family assets and tradeability
- What exactly did these rights represent?
- The Gambling Act 1995 and the 'new commercial arrangements'
- Do the rights attract tax relief under the intangible assets regime?
- Will the profession simply be left with large and unrelievable losses?
Like many of man's peripheral pursuits gambling has been around for a long time and in particular betting on the outcome of horse racing has no doubt existed since soon after the first of these magnificent animals was pitted against another both steered and prompted by the original versions of Lester and Frankie.
However as society developed and its activities became more ordered and formalised so too did horse racing and the...
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