Tax

[Jerelie]

Hello all. I'm searching. And il don't really understand if gambling and trading are really tax free in england and northern ireland? We have the PC oki according différents criterias. But i have read we can be considered as bookmaker. And in this case pay tax on our income. Someone can help me? Many thanks

[Anna List]

Hello all. I'm searching. And il don't really understand if gambling and trading are really tax free in england and northern ireland? We have the PC oki according différents criterias. But i have read we can be considered as bookmaker. And in this case pay tax on our income. Someone can help me? Many thanks

There was talk of the UK taxing those who frequented the betting exchanges a couple of years ago. You are quite right, the idea was based on traders and layers etc being considered bookmakers.

However, the UK Government dropped the idea when it realised that most people who place bets on the exchanges lose.

As things stand at the moment, betting in the UK is free of tax.

The UK government could impose a betting tax. After all, until 2001, there used to be a betting tax of 9% which was payable by punters in the UK. The tax was payable on the stake or on the winnings. That was a decision that was taken by the punter when the bet was placed. However, given the current state of racing in the UK, a betting tax seems unlikely.

That said, the UK Government's finances are in dire straits. The national debt is now in excess of £1.6 trillion. Taxing gambling will be popular with some people. Also, taxing it may be seen, by some, as tackling what is seen, by some, to be a problem in the UK. Taxing gambling could be therefore be seen as an easy target for a Government.

Anna

[kerberus]

RADIO 5 "Wake Up to Money" interesting piece on GeeGees, Levy((TAX ),offshore bookies - hence the use of this thread - sounds like jolly news!

BBC.CO.UK about 5.30 this morning.
You lazy sods who dont't wake up 'til the off can download the podcast.


An' it's on Radio 4 about 6.20 as well

and there's

http://www.bbc.co.uk/sport/horse-racing/39704448 - yesterday

And there's good ol' Racing Post
https://www.racingpost.com/news/news/ra ... rms/283300
Racing plans to boost grassroots prize-money after levy reforms
6:40PM, APR 25 2017