Stars VIP Stuff taxable in UK?
 

Was thinking about trying for the Porsche but I think it's almost certainly taxable isn't it?

Re: Stars VIP Stuff taxable in UK?
 

You mean import duties? Possibly if imported from outside EU...

I doubt that its taxable from a PAYE point of view unless the revenue treat bonuses earned differently from poker winnings..

Re: Stars VIP Stuff taxable in UK?
 

So you're saying that if I play enough to get the porsche, flog it for £40K and the taxman finds out about it he's not going to want a cut? I hope you're right. What about if I get loads of monitors and TV's and sell them on ebay?

Re: Stars VIP Stuff taxable in UK?
 

Well so far as I understand it poker playing (even full time) is not considered a trade/profession under UK tax law.

Now it may be that bonuses, rakeback and stuff like FPP prizes is viewed differently from pure winnings but if it is haven't heard of it.

If you won the WSOP you definitely pay no tax on the winnings. If you 'win' a car thru playing poker unless it is obtained through the pursuit of a trade of profession the same applies.

Re: Stars VIP Stuff taxable in UK?
 

[ QUOTE ]
So you're saying that if I play enough to get the porsche, flog it for £40K and the taxman finds out about it he's not going to want a cut? I hope you're right. What about if I get loads of monitors and TV's and sell them on ebay?

[/ QUOTE ]

Given that gambling is not taxable in the UK allow me to present an alternative way of looking at this matter:

What if the rake was cheaper on sites and with the extra money that you won you buy the porsche? Clearly they can't tax that.

Now I don't know if this is the same thing... but it is an interesting point none the less [img]/images/graemlins/smile.gif[/img]

Rom

Re: Stars VIP Stuff taxable in UK?
 

[ QUOTE ]
Was thinking about trying for the Porsche but I think it's almost certainly taxable isn't it?

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Yes, in the US