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16th February 2005, 08:35 AM
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#1 (permalink) |
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Rank: Beginner
Last Online: 16th February 2005 08:41 AM Join Date: Feb 2005
Posts: 1
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The law in UK - tax etc.
Hi
Are there any law restriction to gambling in the uk? Is it legal to gamble for a living? Do you pay taxes of your winnings? How much? I live in Denmark and am a sucessfull gambler on the internet- I make a living playing poker and sportsbetting. However recently it has come to my attention, that it might not be legal to make a living gambling in Denmark. Therefor I am considering moving to London. If some of you could anwser the above questions it would make my day 
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16th February 2005, 10:16 AM
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#2 (permalink) |
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Rank: Untouchable
Last Online: 24th August 2008 11:01 AM Join Date: Jan 2004
Location: Teesside
Posts: 1,156
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It's 100% legal to make a living from gambling in the UK providing you abide by the law.
No tax to be paid on the winnings as far as I know (i've never paid any) although obviously you must pay tax on any interest accumulated.
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BSc, MOS, CCA(MPS 4.0), ITIL, ILM, MBCS
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16th February 2005, 11:09 AM
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#3 (permalink) |
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Adopt a donk
Last Online: Today 04:14 PM Join Date: Dec 2003
Location: Bristol
Posts: 4,025
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It's perfectly legal to make a living from gambling in the UK. In all types of gambling (as far as I am aware) the tax burden is shouldered by the providers of the gambling, not the punters themselves.
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16th February 2005, 04:24 PM
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#4 (permalink) |
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Rank: Newbie
Last Online: 19th November 2008 08:34 PM Join Date: Sep 2002
Location: Leicester
Posts: 1,058
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Tax on winnings would be impossible to enforce.. how would the ILR know how much I have 'won' on fruit machines for example?
seriously though.. A couple of years ago they removed the tax on gambling in the UK
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