UK society has always managed to function in a way which keeps the wealthy becoming wealthier while driving the poor further into poverty, the variety of factors causing this questionable effect could be infinitely argued and speculated upon. However, one outstanding dent in the livelihood of middle class British citizens is the dreaded tax man. But to claim the role of the sole victims of these progressive tax payment rises can't be done by middle class citizens alone as the mass profiting gambling company; William Hill, made a statement commenting on the government's decision to introduce an increased duty on fixed-odds betting machines. They claimed the introduction of this tax increase had flattened they're profits by 14% in the first quarter of the year and that they will be forced to close 109 stores in this year alone, putting 430 jobs at risk; conclusively costing them 22m a year in profits.
Ralph Topping is the chief executive of William Hill, when interviewed upon the matter he said: "This is particularly disappointing as, through the economic downturn, we have worked hard to grow our retail base but this further planned increase in indirect taxation makes this action necessary,"
Ralph's repetitively expressed 'losses' may be questionable as the duty increase introduced by the government was in fact only a 5% rise, however his rather vague comments on William Hill's retail growth is outstandingly undeniable. The company made an outstanding profit after tax last year of 226.5m, along with a 15% rise of net revenue in international marketing. William Hill US also saw a 47% same period growth in amounts wagered as well as 4.9m operating profit, aided by the rise in popularity of mobile gambling apps.
So, as Ralph so passionately vents Mr Hill's apparent tax wounds and we all express our deepest sympathies, at least there is hope for healing as William Hill have now introduced in store petitions against the government's tax attack. Who better to ask to help 'save' the industry than the gamblers themselves? But the suspicion is forever rising as to just how much William Hill profits have suffered, The Independent stated in an article only last year "British Bookmakers have sidestepped paying upto 1 billion in UK tax since 2009." It is becoming increasingly difficult to find any real dent in the companies profits, and even if the chief executive Mr Topping's claims are valid, can he really be justified in expressing disappointment?
In the Summer of this year, the FIFA World Cup will be held in Brazil. The contest will feature 32 teams, hosted in 12 different cities across the country from 12th June - 13th July. William Hill have already said they hope a recent rise in wins on football betting wins will supply the customer confidence required to reboot business. Along with the approaching World Cup beginning, it seems the company's savior has arrived. Is this genuinely poor William's plea for support to fight the tax man off or is it all simply a deceptive profit booster intended to buy a bigger chest for the treasury?
Ralph Topping is the chief executive of William Hill, when interviewed upon the matter he said: "This is particularly disappointing as, through the economic downturn, we have worked hard to grow our retail base but this further planned increase in indirect taxation makes this action necessary,"
Ralph's repetitively expressed 'losses' may be questionable as the duty increase introduced by the government was in fact only a 5% rise, however his rather vague comments on William Hill's retail growth is outstandingly undeniable. The company made an outstanding profit after tax last year of 226.5m, along with a 15% rise of net revenue in international marketing. William Hill US also saw a 47% same period growth in amounts wagered as well as 4.9m operating profit, aided by the rise in popularity of mobile gambling apps.
So, as Ralph so passionately vents Mr Hill's apparent tax wounds and we all express our deepest sympathies, at least there is hope for healing as William Hill have now introduced in store petitions against the government's tax attack. Who better to ask to help 'save' the industry than the gamblers themselves? But the suspicion is forever rising as to just how much William Hill profits have suffered, The Independent stated in an article only last year "British Bookmakers have sidestepped paying upto 1 billion in UK tax since 2009." It is becoming increasingly difficult to find any real dent in the companies profits, and even if the chief executive Mr Topping's claims are valid, can he really be justified in expressing disappointment?
In the Summer of this year, the FIFA World Cup will be held in Brazil. The contest will feature 32 teams, hosted in 12 different cities across the country from 12th June - 13th July. William Hill have already said they hope a recent rise in wins on football betting wins will supply the customer confidence required to reboot business. Along with the approaching World Cup beginning, it seems the company's savior has arrived. Is this genuinely poor William's plea for support to fight the tax man off or is it all simply a deceptive profit booster intended to buy a bigger chest for the treasury?
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