Two Plus Two Older Archives  

Go Back   Two Plus Two Older Archives > Internet Gambling > Internet Gambling

Reply
 
Thread Tools Display Modes
  #1  
Old 12-24-2005, 09:23 AM
byronkincaid byronkincaid is offline
Junior Member
 
Join Date: Apr 2003
Location: Carshalton, UK
Posts: 27
Default Stars VIP Stuff taxable in UK?

Was thinking about trying for the Porsche but I think it's almost certainly taxable isn't it?
Reply With Quote
  #2  
Old 12-24-2005, 10:12 AM
excession excession is offline
Junior Member
 
Join Date: Jul 2004
Posts: 18
Default 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..
Reply With Quote
  #3  
Old 12-24-2005, 11:00 AM
byronkincaid byronkincaid is offline
Junior Member
 
Join Date: Apr 2003
Location: Carshalton, UK
Posts: 27
Default 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?
Reply With Quote
  #4  
Old 12-24-2005, 05:23 PM
excession excession is offline
Junior Member
 
Join Date: Jul 2004
Posts: 18
Default 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.
Reply With Quote
  #5  
Old 12-24-2005, 05:59 PM
Ro-me-ro Ro-me-ro is offline
Member
 
Join Date: Dec 2002
Posts: 87
Default 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
Reply With Quote
  #6  
Old 12-24-2005, 07:05 PM
Sniper Sniper is offline
Senior Member
 
Join Date: Jun 2005
Posts: 704
Default 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?

[/ QUOTE ]

Yes, in the US
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 12:18 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.