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Title: How much tax on big tournament wins? Post by: Mokers on October 28, 2005, 09:31:11 PM I was playing in the £20 freezeout at the Gutshot today and was surprised and excited (there was a t-shirt on his head... for knocking him out...) to have Roland De Wolfe on my table. He talked briefly about his Paris WPT win and mentioned something about the tax he had to pay on his win. I know with tournaments in the US the tax deductions are laughable, but is this the same in Europe? Surely this takes away a lot of the value in playing tournaments.
Title: Re: How much tax on big tournament wins? Post by: ifm on October 29, 2005, 04:11:32 AM i have another question:-
if you won the grand prix at walsall, do they give you £100,000 cash? what if you deal? do you get the option to have seperate cheques? how do they pay out? Title: Re: How much tax on big tournament wins? Post by: Yogi-Bear on October 29, 2005, 04:47:22 AM I would assume it was a cheque. Altho they may have had cash available for it.
AS it's a Grosvenor they wouldn't have recognized any deal made and only paid out there advertised prizes and left it up to the players to sort out. Yogi Title: Re: How much tax on big tournament wins? Post by: ifm on October 29, 2005, 04:49:44 AM so what if there is an unofficial (they all are now ain't they?) deal?
do you trust someone to send you £5k? |