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Author Topic: UK to start taxing poker winnings? :(  (Read 10342 times)
MC
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« on: March 23, 2011, 02:12:03 PM »

Looks like we're going to be taxed on all gambling winnings of £25k+ from April 2012, according to the new budget.

SadSadSadSadSadSadSadSad

FML

http://www.fin24.com/Budget/Budget-2011/Gamblers-luck-runs-out-20110223



Edit: oops, False alarm!
« Last Edit: March 23, 2011, 06:31:27 PM by MC » Logged

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gatso
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« Reply #1 on: March 23, 2011, 02:15:38 PM »

can't figure out if this is a level or a misread
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TightEnd
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« Reply #2 on: March 23, 2011, 02:16:09 PM »

South African article?
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« Reply #3 on: March 23, 2011, 02:21:57 PM »

lol atkins u pleb
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the sicilian
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« Reply #4 on: March 23, 2011, 02:26:53 PM »

lol R25000 was a giveaway as was Pretoria
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tikay
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« Reply #5 on: March 23, 2011, 02:27:52 PM »


It's a rap.
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« Reply #6 on: March 23, 2011, 02:28:48 PM »

April 1 is next Friday imo
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« Reply #7 on: March 23, 2011, 02:30:48 PM »

lol R25000 was a giveaway as was Pretoria


and I'm not really up on uk politics but I've never heard of finance minister pravin gordhan
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AndrewT
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« Reply #8 on: March 23, 2011, 02:30:58 PM »

It's true James.

Luckily I work for HMRC - so just transfer 15% of your poker winnings to me on Stars and I'll give you a receipt so you don't go to jail.
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« Reply #9 on: March 23, 2011, 02:33:01 PM »

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.

If we get ill we go to the doctors

If we have children they go to school.

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

Shame it's in South Africa really.
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MC
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« Reply #10 on: March 23, 2011, 02:35:43 PM »

Oops !

Bloody Neil Channing's fault lol

http://twitter.com/senseichanning

I agree with you somewhat Camel, it's just if I don't have to pay £x I'd prefer not to!
« Last Edit: March 23, 2011, 02:38:54 PM by MC » Logged

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« Reply #11 on: March 23, 2011, 02:41:45 PM »

Doesn't the argument run along the lines that instead of being paid by the punter after winning, the tax is paid by the bookie from the money they make, as it is logistically much easier to collect tax from a dozen bookmaking companies than X thousand punters.

Of course, this was all pre-internet and now most of the poker companies (and, indeed bookies) are offshore and pay fk all tax of any description.

Prob best to keep quiet lest Doughface Osbourne notices.
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« Reply #12 on: March 23, 2011, 02:47:03 PM »

The problem with my argument is that people are in Government are too stupid to understand how gambling works and if they tried to tax gamblers we would probably end with a monstrosity like they have in Denmark and Holland.
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« Reply #13 on: March 23, 2011, 02:49:09 PM »

If you had to pay tax on your winnings, just think of all the people who could claim tax refunds on their losses.
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« Reply #14 on: March 23, 2011, 02:51:36 PM »

Looks like we're going to be taxed on all gambling winnings of £25k+ from April 2012, according to the new budget.

SadSadSadSadSadSadSadSad

FML

http://www.fin24.com/Budget/Budget-2011/Gamblers-luck-runs-out-20110223

GTFO!
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