Do you have too pay tax on poker winnings in the UK?

[Drunkmonk331]

I have the aim too become a professional poker player.. But I was wondering if you have too pay tax on your winnings ?

 

[Lucothefish]

In the UK all gambling wins are tax free (lottery, sports betting, poker etc) and do not need to be declared.

 

[veltins]

I think poker winnings are taxfree in UK..

 

[Drunkmonk331]

In the UK all gambling wins are tax free (lottery, sports betting, poker etc) and do not need to be declared.

Thank you! I thought that my self but I wanted too double check so I don't get fu*ked in years to come ha.

 

[rlzaleski]

I've heard somewhere they are aware of it, so don't be surprised if in 2-10 years the law changes.

Then again, getting baller european poker pros moving to your country is probably better than taxing them.

 

[ELDONKOII]

they cant tax a recreational game it isnt really employment so no you dont pay tax and you dont need to declare it

 

[Marcwantstowin]

I wouldn't be surprised that they will try to tax poker winnings in the UK at some point. It will depend on which political party wins the next election ~ atm we have a Conservative Government, so they will not tax it. However, if a Labour government were to be elected then we would be f**ked, they would tax fresh air given the chance !! Mind you the pillock they got in charge of them atm is a right prat so should be okay until 2020 at least ~ so come to UK ~ everyone else is !!!

 

[velhasil]

i think I'm going to move to LONDON

 

[jerohit]

what about India?
I read somewhere that sombody who wins on gambling site have to pay 30% in tax and wining money can be calculated in black money.
Is it true?

 

[veltins]

what about India?
I read somewhere that sombody who wins on gambling site have to pay 30% in tax and wining money can be calculated in black money.
Is it true?

if you paying 30% tax on the income , then it cant be calculated as black money .

 

[juliecripps]

I must have missed this in the labor party manifesto.

 

[jerohit]

if you paying 30% tax on the income , then it cant be calculated as black money .

I have read somewhere that money credited in your account through online wallets such as netller or from gambling site then you have to pay 30% tax + 30% panelty in India.

 

[Sakolik029]

I've never been in the UK of course,but purely my opinion that's not fair,for luck man needs someone to pay,I think this is nonsense

 

[rohankamble9]

I have read somewhere that money credited in your account through online wallets such as netller or from gambling site then you have to pay 30% tax + 30% panelty in India.

if this is real..i should stop playing poker online... and play live poker in GOA

 

[Ranny]

For the casual player, yes there is no tax.

For a professional, yes thye will play tax but only on nett winnings, not on individual tournaments.

 

[Chemist]

In the UK all gambling wins are tax free (lottery, sports betting, poker etc) and do not need to be declared.

Tax is taken at source, the government doesn't gamble, they tax your stake and let you take the winnings or losses.

For the casual player, yes there is no tax.

For a professional, yes thye will play tax but only on nett winnings, not on individual tournaments.

Professionals are like small businesses, they can offset all their expenses and just pay tax at the appropriate rate on net income.