UK to start taxing poker winnings? :(

[The Camel]

If you had to pay tax on your winnings, just think of all the people who could claim tax refunds on their losses.

I appreciate it would be difficult to implement and Government would undoubtedly eff it up.

I would say professionals only should be taxed, a certain amount of losses could be deductable year on year.

But someone earning 100k+ per year and paying £0 tax is pretty scandalous imo.

[doogan]

depends what country you win it in, and you would get around it by saying people had %'s of you so it's not all yours

[AlunB]

If you had to pay tax on your winnings, just think of all the people who could claim tax refunds on their losses.

I appreciate it would be difficult to implement and Government would undoubtedly eff it up.

I would say professionals only should be taxed, a certain amount of losses could be deductable year on year.

But someone earning 100k+ per year and paying £0 tax is pretty scandalous imo.

I couldn't agree more, and it's even more irritating the way some poker players choose to adopt a 'why should I pay tax' stance as opposed to an 'aren't i lucky not to pay tax' stance. The latter is fair enough.

Anytime this topic of conversation comes up though people come up with numerous reasons why it can't and won't work. But that doesn't stop the americans doing it...

http://www.irs.gov/taxtopics/tc419.html

[smashedagain]

we've been waiting for poker to be taxed for years. whilst governments see it easier to tax at source (bookies/ casinos) we will be safe. when they suspect they may earn more from individual taxation then a problem might occur. poker is the one profession i know were people actually claim to make more money than they actually do. thank god only 5% make money

[T_Mar]

If you had to pay tax on your winnings, just think of all the people who could claim tax refunds on their losses.

I appreciate it would be difficult to implement and Government would undoubtedly eff it up.

I would say professionals only should be taxed, a certain amount of losses could be deductable year on year.

But someone earning 100k+ per year and paying £0 tax is pretty scandalous imo.

Pretty refreshing to hear this from someone who obviously makes their living from gambling and is currently paying no tax (I presume)

I agree with your other points about going to the doctors and schools for children etc aswell... It really winds me up when I hear people in general complaining about paying too much tax etc etc, and yet they take all the public services for granted.

[Foggy]

I remember a time when you used to pay a tax on horse racing with your stake, If you were lucky enough to win they took 10% of the total winnings.

But how they could police this at a cash table, is virtualy impossible, and should they find a way, it would drive the game underground, back to thye spielers

[AndrewT]

The reason they don't tax poker players is because no one wins at poker any more - everyone's solid.

[AlunB]

Well the current 'sod this we're moving to gibraltar' mentality from the UK bookies isn't going to help the average punter. One of the main reasons the punters tax was abolished was to allow UK bookies to compete with the offshore trade who were offering 'tax free betting'. It wasn't necessarily to raise more tax revenue, but to keep the business in the UK and not send it offshore. If that's no longer happening....

[Woodsey]

This is one of my oldest bugbears.

Why shouldn't a professional gambler who earns over the tax threshhold pay tax?

If our home gets robbed we call the police.

15% on 25k+ sounds like a perfectly fair and equitable level of tax.

Shame it's in South Africa really.

Most unexpected post of the year imo 

[The Camel]

If you had to pay tax on your winnings, just think of all the people who could claim tax refunds on their losses.

I appreciate it would be difficult to implement and Government would undoubtedly eff it up.

I would say professionals only should be taxed, a certain amount of losses could be deductable year on year.

But someone earning 100k+ per year and paying £0 tax is pretty scandalous imo.

Pretty refreshing to hear this from someone who obviously makes their living from gambling and is currently paying no tax (I presume)

I agree with your other points about going to the doctors and schools for children etc aswell... It really winds me up when I hear people in general complaining about paying too much tax etc etc, and yet they take all the public services for granted.

I pay Council Tax and I voluntarily pay my NI contributions (about £700 per year) but you are correct I do not pay any Income Tax.

[AndrewT]

I pay Council Tax and I voluntarily pay my NI contributions (about £700 per year) but you are correct I do not pay any Income Tax.

Remember you also pay VAT, fuel duty, alcohol duty and probably some others I forget. So you are making a contribution to national coffers, probably more than other people who are liable for income tax but who don't have your mad poker skillz.

[outragous76]

I pay Council Tax and I voluntarily pay my NI contributions (about £700 per year) but you are correct I do not pay any Income Tax.

Remember you also pay VAT, fuel duty, alcohol duty and probably some others I forget. So you are making a contribution to national coffers, probably more than other people who are liable for income tax but who don't have your mad poker skillz.

because the rest of us dont pay those things too?

I actually dont mind the tax position on gambling, but keith i think your stance is very ethical. Taxing gambling would merely force gambling/poker etc underground.

As far as tax is concerned, the government should turn their focus to the wealthy few who avoid it for all they are worth rather than focus on the minutiae. But that would lose political revenue and back up so that is never going to happen.

The tax system in the country is a joke in terms of its application - oh god - i better not read this thread anymore. ....................

[AndrewT]

My point is that income tax is only a part of the total of our wealth which goes to the government. It's too easy to fall into the trap of thinking 'no income tax = no tax'.

[outragous76]

My point is that income tax is only a part of the total of our wealth which goes to the government. It's too easy to fall into the trap of thinking 'no income tax = no tax'.

ah  - ok - didnt pick up on that - yeah - your right

my beef with the tax system is very deep set - i gladly pay my taxes - i have issues in which they are collected and who from

anyway - it  tilts me hard so im done here 

[SuuPRlim]

I agree with camel's point to a certain extent, but i feel like the system we live in - possibly due to no fault of it's creators - promotes an "each for there own" kind of mentality and with that in mind if and when gambling tax comes in I'll be doing my utmost to hide every piece of earning I can.

its been inevitable for years anyway, tony blair and labour bought us 5years longer than we should have had prolly