New gambling tax in the next budget

[bodle86]

Is anyone worried about gambling winnings being taxed in October budget?

[Euler]

No

[jamesedwards]

Even if they wanted to it would take years to set it up IMO. They are looking for immediate tax injection. They rather short-sightedly ruled out income, employee NI, and VAT rises. That leaves petrol duty, employer NI, corporation tax, inheritance tax, capital gains, council tax, or this rumoured 'per mile' road tax.

I'm guessing they will do employer NI, inheritance, and petrol duty.

[Archery1969]

They could introduce some kind of gambling tax. Just treat it like other self employed people, if you make a profit overall then you pay tax. Would be easy to introduce or they could extend the net of IR35 in some way.

[jamesedwards]

They could introduce some kind of gambling tax. Just treat it like other self employed people, if you make a profit overall then you pay tax. Would be easy to introduce or they could extend the net of IR35 in some way.

Are you paying the relevant professional gambling taxes now you are living in Canada?

[Archery1969]

They could introduce some kind of gambling tax. Just treat it like other self employed people, if you make a profit overall then you pay tax. Would be easy to introduce or they could extend the net of IR35 in some way.

Are you paying the relevant professional gambling taxes now you are living in Canada?

I don’t pay tax. Retired.

[jamesedwards]

They could introduce some kind of gambling tax. Just treat it like other self employed people, if you make a profit overall then you pay tax. Would be easy to introduce or they could extend the net of IR35 in some way.

Are you paying the relevant professional gambling taxes now you are living in Canada?

I don’t pay tax. Retired.

Oh, I assumed you were a Betfair trader? Are you just in here for the shits and giggles?

[Michael5482]

They could introduce some kind of gambling tax. Just treat it like other self employed people, if you make a profit overall then you pay tax. Would be easy to introduce or they could extend the net of IR35 in some way.

No one wins at gambling in the UK, were all addicts who need protecting from ourselves, winning is impossible unless they start taxing losses

Gambling is recreational, paying tax on gambling winnings and the Government classing it as a job will never work. To tax pro gamblers you'd have to intrude on recreational gamblers and have bookmakers reporting winnings to HMRC

Imagine getting contacted by HMRC for having the audacity to win a Lucky15 or the ITV7 for example.

Government need to be careful taxing everyone and everything, there is only so much people will take. Slightly off note but one of my mates has just gone part time, sick of being taxed to death and opted for less money and better work/life balance that part time offers. Picks and chooses his work now and will keep under the personal allowance.

[Archery1969]

Are you paying the relevant professional gambling taxes now you are living in Canada?

I don’t pay tax. Retired.

Oh, I assumed you were a Betfair trader? Are you just in here for the shits and giggles?

Use to be but I sold something to a company who now also pay a monthly royalty fee.

[Archery1969]

They could introduce some kind of gambling tax. Just treat it like other self employed people, if you make a profit overall then you pay tax. Would be easy to introduce or they could extend the net of IR35 in some way.

No one wins at gambling in the UK, were all addicts who need protecting from ourselves, winning is impossible unless they start taxing losses

Gambling is recreational, paying tax on gambling winnings and the Government classing it as a job will never work. To tax pro gamblers you'd have to intrude on recreational gamblers and have bookmakers reporting winnings to HMRC

Imagine getting contacted by HMRC for having the audacity to win a Lucky15 or the ITV7 for example.

Government need to be careful taxing everyone and everything, there is only so much people will take. Slightly off note but one of my mates has just gone part time, sick of being taxed to death and opted for less money and better work/life balance that part time offers. Picks and chooses his work now and will keep under the personal allowance.

The IRS seem to be able to do it in the USA with pro gamblers, especially poker players.

[Michael5482]

They could introduce some kind of gambling tax. Just treat it like other self employed people, if you make a profit overall then you pay tax. Would be easy to introduce or they could extend the net of IR35 in some way.

No one wins at gambling in the UK, were all addicts who need protecting from ourselves, winning is impossible unless they start taxing losses

Gambling is recreational, paying tax on gambling winnings and the Government classing it as a job will never work. To tax pro gamblers you'd have to intrude on recreational gamblers and have bookmakers reporting winnings to HMRC

Imagine getting contacted by HMRC for having the audacity to win a Lucky15 or the ITV7 for example.

Government need to be careful taxing everyone and everything, there is only so much people will take. Slightly off note but one of my mates has just gone part time, sick of being taxed to death and opted for less money and better work/life balance that part time offers. Picks and chooses his work now and will keep under the personal allowance.

The IRS seem to be able to do it in the USA with pro gamblers, especially poker players.

The good old "Land of the Free"

[Archery1969]

No one wins at gambling in the UK, were all addicts who need protecting from ourselves, winning is impossible unless they start taxing losses

Gambling is recreational, paying tax on gambling winnings and the Government classing it as a job will never work. To tax pro gamblers you'd have to intrude on recreational gamblers and have bookmakers reporting winnings to HMRC

Imagine getting contacted by HMRC for having the audacity to win a Lucky15 or the ITV7 for example.

Government need to be careful taxing everyone and everything, there is only so much people will take. Slightly off note but one of my mates has just gone part time, sick of being taxed to death and opted for less money and better work/life balance that part time offers. Picks and chooses his work now and will keep under the personal allowance.

The IRS seem to be able to do it in the USA with pro gamblers, especially poker players.

The good old "Land of the Free"

They even find out if you win the money overseas in poker tournaments. Private or Public ones.

They must employ some savvy tax collectors and/or have some good systems in place. I assume anything >= $1 enters your bank account and they know about it, somehow.

[Fugazi]

The IRS seem to be able to do it in the USA with pro gamblers, especially poker players.

The good old "Land of the Free"

They even find out if you win the money overseas in poker tournaments. Private or Public ones.

They must employ some savvy tax collectors and/or have some good systems in place. I assume anything >= $1 enters your bank account and they know about it, somehow.

Only noticed they owed me £600 when I told them 3 years later mind.

[jamesedwards]

No one wins at gambling in the UK, were all addicts who need protecting from ourselves, winning is impossible unless they start taxing losses

Gambling is recreational, paying tax on gambling winnings and the Government classing it as a job will never work. To tax pro gamblers you'd have to intrude on recreational gamblers and have bookmakers reporting winnings to HMRC

Imagine getting contacted by HMRC for having the audacity to win a Lucky15 or the ITV7 for example.

Government need to be careful taxing everyone and everything, there is only so much people will take. Slightly off note but one of my mates has just gone part time, sick of being taxed to death and opted for less money and better work/life balance that part time offers. Picks and chooses his work now and will keep under the personal allowance.

The IRS seem to be able to do it in the USA with pro gamblers, especially poker players.

The good old "Land of the Free"

Uncle Sam owes me a grand from tax collected on a $3k slot machine win in LV back in 2016. I did try to send off my tax forms to claim it but never heard anything back. Tossers!

[Archery1969]

The IRS seem to be able to do it in the USA with pro gamblers, especially poker players.

The good old "Land of the Free"

Uncle Sam owes me a grand from tax collected on a $3k slot machine win in LV back in 2016. I did try to send off my tax forms to claim it but never heard anything back. Tossers!

The IRS have a history of not giving refunds, in some cases, even when told to be congressional hearings. They have allot of power, some would say too much. But one thing is certain with them, you owe Uncle Sam, then you pay or go to prison and/or get made insolvent by them. Unless of course your Donald Trump. But they will get him too, eventually.