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#5
10-21-2005, 10:31 AM
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Re: taxes in the UK
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I was led to believe gambling winnings are tax-free in the UK... I'm sure this will get looked into at some point.. [/ QUOTE ] It just was looked at a few years back to change it so you didn't have to pay 9% at the bookies. The government realised that they were getting screwed because they just set up offshore businesses and then they didn't even get a share of the bookies' profits. 
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#6
10-21-2005, 10:32 AM
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Re: taxes in the UK
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It's a different state of affairs for those poor Americans. If one of them should win The Poker Million, even though it's being played in London in 2002, they will be liable for tax. We are even luckier because should we win The World Series of Poker in Las Vegas we have a tax treaty with the states and all we have to do is sign a form in order to collect our prize money in full. Certain other countries are not so lucky. Players resident in Australia or even Eire do not enjoy such treaties. This is why certain poker players 'claim' to be English when they play in Vegas. I guess dual nationality is worth a few quid ! The other countries to enjoy a similar treaty as us are, Czech Republic, Finland, France, Germany, Hungary, Italy, Malta, Netherlands, Russia, Spain and Tunisia. (Taken from the WSOP brochure 1997) [/ QUOTE ] No tax on a WSOP win ? Now that is a good bit of news.......
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