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Title: Will poker players have to pay Tax? Post by: Omm on March 30, 2015, 02:33:43 PM http://www.dailymail.co.uk/news/article-3010382/Will-poker-winnings-taxed-Level-skill-needed-win-means-Government-considering-levy.html
Is it better for the Goverment to continue with how they tax? Or is time running out for us? Title: Re: Will poker players have to pay Tax? Post by: dwayne110 on March 30, 2015, 07:47:18 PM Probably not, but gotta laugh at the second last paragraph... 2012 study based on each player playing a whole '60 hands each'.... come back and talk to me once they've played 50,000 hands ☺️
Title: Re: Will poker players have to pay Tax? Post by: doubleup on March 31, 2015, 10:10:46 AM The premise of the article is completely flawed. In one of the legal judgements that settled that gambling winnings weren't taxable income, the judge specifically said that a card player playing every day and winning through skill was not carrying out a profession and not liable for tax. The only way professional gambling winnings could be taxed would be through the creation of a new tax schedule that established taxable status (and only allowed gambling losses to be set against winnings). I doubt that they would do this because of the admin costs involved, but with a proposed overhaul of HMRC tax payment systems in the offing, who knows? However at least we would see a resurgence of people "getting it quietly" rather than spouting off all over the shop when they win a SnG. |