Published: 30.04.2020, 13:31
2 min read
On April 21, 2020, the UK Gambling Commission released a public statement regarding its stance on regulatory returns. Due to the ongoing COVID-19 pandemic, most gambling operators within the UK, as well as overseas, have had to make operational adjustments. To account for this, the UKGC is giving operators an extra 4 weeks to turn in their regulatory returns.
A regulatory return is a form that operators must submit for each licensed gambling activity they provide. For instance, an operator who holds a remote casino license and a gambling software license will need to fill out two separate returns.
All operators must adhere to the UKGC’s procedure for regulatory returns or else face possible license revocation. According to the UKGC, the majority of operators turn in their forms accurately and in a timely manner. If the Commission finds that a return is inaccurate, incomplete, or late, it will contact the operators.
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The UKGC uses information from operators’ regulatory returns in order to make sure that each licensee is in the right fee category. The data is also used to help the Council publish industry statistics on a bi-annual basis. If the UKGC has to chase after returns that are inaccurate or late, this reduces the Council’s efficiency and wastes time and money.
Regulatory returns are completed via the UKGC’s eServices system. The program offers guidance to help operators through the filing process.
If an operator holds a current license but has stopped providing gambling services, or has not yet started to offer them, they must file a ‘nil’ return.
Depending on the type of gambling business, operators will either have to file annual returns or quarterly returns. In the case of an annual return, it must be submitted at some point during the last 42 days of the annual period. On the other hand, quarterly returns are required to be submitted within 28 days after each quarterly period ends.
Because of the current pandemic, the UKGC has decided to extend the annual return window from 42 days to 70 days. If an operator’s year end is aligned with the UK’s fiscal year, the regulatory return must be turned in by June 9th, 2020. The quarterly return window has been increased from 28 days to 56 days. If an operator’s quarter aligns with the UK’s fiscal quarters, the regulatory return must be submitted before May 26th, 2020. These updates will be applied to regulatory returns that are due prior to June 30, 2020. At some point before then, the UKGC will look at the situation and decide if it will extend filing windows again.
The UKGC reminded operators that email communications are automatic and will reference the original filing windows.
