Tip: Betfair a hold as management has a lot to prove
They're holding around £284m in client funds? The banks lend money overnight to each other and charge interest, why not a company with large cash deposits? Assuming a 1% interest rate, that's nearly £8k per day... Slightly more than the interest I get on my account 
It typically relates to Corporation tax; a company is taxed based on where it's customers are, rather than where the company is registered for tax. So, BF is registered in Gibraltar and I assume that's because of better tax rates and less regulation.Wyndon wrote:What's a point of consumption tax and who does it affect?
In theory, it doesn't directly affect BF users. In practice, I'm sure that if BF profits drop (because of increased tax), we'll end up making up the difference.
Ian