Another tax question! (For UK players)

[gambool]

I know this has been discussed many times before, and the answer is that gambling winnings in the UK are not taxed, unless they are your main source of income. My question is what does "Main source of income" mean?

My poker income has overtaken the income from my full time job. As I can make much more hourly from poker, Im obviously considering going part time, and playing more poker.

At what point would the taxman start asking questions? What if your employed income, for example, is 10k a year and 50k from poker?

I mainly play on the internet, so all poker winnings go through my bank. Any issues with regular income this way?

I'd be interested in hearing any advice from any UK players who have experience of this.

[spamuell]

[ QUOTE ]
gambling winnings in the UK are not taxed, unless they are your main source of income

[/ QUOTE ]

What? I just thought that they weren't taxed at all, regardless of how much of your income they are. Are you sure about this? Where did you hear it?

More info please, I'm worried now.

[daveymck]

There is no tax to pay on gambling income.

If you are a affiliate this income may be taxable its the only real grey area to my mind but unless you are a huge affiliate I would not worry.

If you do leave your job make sure you still pay your NI stamp apart from that nothing else to worry about.

Not sure where the not unless its your main income has come from.

[axioma]

yup no tax on gambling income full stop in the UK.

as davey said though, affiliate schemes do not count as 'gambling income'. rakeback is another grey area.

[RevAgain]

Yes, I don't know where you got this 'main source of income from'. Article here, although it's written a couple of years ago tax laws on this sort of thing haven't changed AFAIK:

Article

[gambool]

[ QUOTE ]
Not sure where the not unless its your main income has come from.

[/ QUOTE ]

Come to think of it, im not sure where it comes from either. I've just heard it stated many times on the Internet, and the Internet never lies. The reason I asked is that logic tells me that if you are earning a regular sizable income from gambling, the taxman may want his cut. I've also heard of certain pro players 'officially' running a business to avoid any tax issues.

Some pages of interest i've come across, though nothing that convinces me 100%:

RGP thread
The Hendon Mob - Poker And The Taxman
Taxation web forum discussion
HM Revenue & Customs
Another RGP thread

[spamuell]

What's the problem? From the threads you linked, it looks like Graham vs Green does apply. And from the HM Revenue and Customs page:

[ QUOTE ]
What income is not taxable?
[snip irrelevant stuff]
* Premium Bond, National Lottery, and gambling prizes.


[/ QUOTE ]

[Phill S]

[ QUOTE ]
[ QUOTE ]
Not sure where the not unless its your main income has come from.

[/ QUOTE ]

Come to think of it, im not sure where it comes from either. I've just heard it stated many times on the Internet, and the Internet never lies. The reason I asked is that logic tells me that if you are earning a regular sizable income from gambling, the taxman may want his cut. I've also heard of certain pro players 'officially' running a business to avoid any tax issues.

Some pages of interest i've come across, though nothing that convinces me 100%:

RGP thread
The Hendon Mob - Poker And The Taxman
Taxation web forum discussion
HM Revenue & Customs
Another RGP thread

[/ QUOTE ]

Ive personally gone into our local income tax office and asked them flat out if i had to pay tax, NI and the like.

They said winnings from gambling does not need to be reported and have tax paid on it, and if you do it as a living you are not required to pay national insurance.

I had them double check and i took it as gospel.

Just find your local tax office and go speak to someone, they are there to help you and will give you it in writing if you so require.

[byronkincaid]

Any idea how to pay NI contributions if I want to? I've been meaning to sort this out for a year now. I really don't know why people think I'm lazy...