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do they pay tax?

windamonwindamon Member Posts: 219
edited January 2012 in Poker Chat
just thinking.if you are a pro pkr ply do you pay tax on money won in this country?. is it classed as a (proper job). im not sure of the tax laws on gambling over here. anybody any ideas?. ty.
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  • debdobs_67debdobs_67 Member Posts: 3,615
    edited January 2012
    Pretty sure its tax free
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  • 12671267 Member Posts: 936
    edited January 2012
    100 percent tax free.
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  • Tikay10Tikay10 Member, Administrator, Moderator Posts: 173,826
    edited January 2012

    No!

    Poker players have never paid tax on their winnings. It's an "uncollectable tax" if you think about it, because, as with all tax systems, taxpayers are allowed to offset losses against gains.

     
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  • ajs4385ajs4385 Member Posts: 455
    edited January 2012

    No tax
    No student loan repayments
    No travel costs

    Just have to pay bout 6k a month in rake (obv depends on volume and level etc)

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  • MAXALLYMAXALLY Member Posts: 17,647
    edited January 2012
    In Response to Re: do they pay tax?:
    No tax No student loan repayments No travel costs Just have to pay bout 6k a month in rake (obv depends on volume and level etc)
    Posted by ajs4385

    ....but you could get £3k back in a prize rebate   ☺
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  • scotty77scotty77 Member Posts: 4,970
    edited January 2012
    No tax on poker winnings.  If you think about it, it would be a logicstical nightmare for the government....would then open up the opportunity for ANYONE to claim back their loses for every form of gambling and as we a society with gambling kind of everywhere I think it would be more trouble than its worth.....
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  • windamonwindamon Member Posts: 219
    edited January 2012
    In Response to Re: do they pay tax?:
    No! Poker players have never paid tax on their winnings. It's an "uncollectable tax" if you think about it, because, as with all tax systems, taxpayers are allowed to offset losses against gains.  
    Posted by Tikay10
    so pokerplys reap the bennefits of our system ie nhs etc and dont pay into the system?
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  • 12671267 Member Posts: 936
    edited January 2012
    In Response to Re: do they pay tax?:
    In Response to Re: do they pay tax? : so pokerplys reap the bennefits of our system ie nhs etc and dont pay into the system?
    Posted by windamon
    lol lets not start this argument ey,  but surely it's alot better for the economy that being on the dole (who reap the same benefits) !  as at least they put money back into the economy by spending etc..
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  • tikay1tikay1 Member Posts: 741
    edited January 2012
    In Response to Re: do they pay tax?:
    In Response to Re: do they pay tax? : so pokerplys reap the bennefits of our system ie nhs etc and dont pay into the system?
    Posted by windamon
    Read into it what you will, Sir, I was asked a question & I simply gave a factual answer.
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  • BrownnDogBrownnDog Member Posts: 729
    edited January 2012
    Well we dont pay income tax.

    I certainly pay tax, however.
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  • scotty77scotty77 Member Posts: 4,970
    edited January 2012
    Well without pro players there wouldn't be poker sites....there wouldn't be all the jobs for people that Sky need to employ to keep the site running....the poker rooms are taxed on rake etc

    There wouldn't be poker rooms in casinos.

    Pro players also don't claim the dole.

    Most players I assume have some kind of business interest away from poker.

    Even tho poker players don't pay income tax on winnings, we certianly pay plenty of tax.  And if ANYONE pro or not took down, say a GUKPT this year for ~50k plus...then they wouldn't pay tax either.

    It's not as black and white as it first appears
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  • windamonwindamon Member Posts: 219
    edited January 2012
    In Response to Re: do they pay tax?:
    No tax on poker winnings.  If you think about it, it would be a logicstical nightmare for the government....would then open up the opportunity for ANYONE to claim back their loses for every form of gambling and as we a society with gambling kind of everywhere I think it would be more trouble than its worth.....
    Posted by scotty77
    yo bro.i understand that you cannot tax poker plys on poker winnings if they cannot claimagainst losses but surely these plyrs who say profit margins would be too small if winnings were taxable are obviously not good eneough and should find a proper job.dont get me wrong i do not begrudge a plyr earning 200 grand a year etc in line with legal requirments but what about the guys on the poverty line earning min wage and paying his wack in tax but yet what bennefits he does get are being cut.all im saying is if a pros house is on fire he will expect the fire service to come and put out the fire,if hes stranded on a mountain **** want the emergency services help,if he gets married and  has kids **** want his kids to go in a state school, somat is wrong somewere.  ps   do they pay ni contributions?
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  • aiken2001aiken2001 Member Posts: 364
    edited January 2012
    Think about it in a different way. All the moneythat is floating around on the poker sites has paid its tax being joe public on the 2/4p tables all the way up to mr millionaire on the £5/£10k tables before they put the money into poker circulation the earned it and paid tax on it. If mr Pro Poker player is making his cool 200k a year he works b****y hard for it and then spends that money into the general economy . Paying council tax on his mansion for instance paying Vat on that nice 27" moniter he wants for work. There aint that many of them and the contribution they would make is minimal in the grand scheme of things.
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  • POKERTREVPOKERTREV Member Posts: 9,607
    edited January 2012
    In Response to Re: do they pay tax?:
    In Response to Re: do they pay tax? : yo bro.i understand that you cannot tax poker plys on poker winnings if they cannot claimagainst losses but surely these plyrs who say profit margins would be too small if winnings were taxable are obviously not good eneough and should find a proper job.dont get me wrong i do not begrudge a plyr earning 200 grand a year etc in line with legal requirments but what about the guys on the poverty line earning min wage and paying his wack in tax but yet what bennefits he does get are being cut.all im saying is if a pros house is on fire he will expect the fire service to come and put out the fire,if hes stranded on a mountain **** want the emergency services help,if he gets married and  has kids **** want his kids to go in a state school, somat is wrong somewere.  ps   do they pay ni contributions?
    Posted by windamon
    These are all paid for with your council tax and every household pays council tax.

    Although there are some Poker Players making a profit, the vast majority are making a loss. So I think there would be more people claiming tax back on their losses than there would be people paying tax into the kitty from their gains. It would make no sense.

     
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  • Poker_FailPoker_Fail Member Posts: 1,755
    edited January 2012
    In Response to Re: do they pay tax?:
    In Response to Re: do they pay tax? : These are all paid for with your council tax and every household pays council tax. Although there are some Poker Players making a profit, the vast majority are making a loss. So I think there would be more people claiming tax back on there losses than there would be people paying tax into the kitty from their gains. It would make no sense.  
    Posted by POKERTREV
    This.

    Just think, due to rake much more money goes into a poker site than comes out of it.
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  • rancidrancid Member Posts: 5,947
    edited January 2012
    Poker players are parasites to the goverment, PAY YOUR INCOME TAX !!



































    ............................ j/k :D
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  • loonytoonsloonytoons Member Posts: 4,270
    edited January 2012
    A while back the inland revenue went to court to try to prove that poker was predominently a game of skill. If they could prove this, taxes would have to be collected as this would be a form of income. In their wisdom the courts ruled against the government and declared that poker was primarily a game of luck and was therefor gambling and should be treated the same as any other gambling activity such as betting on the horses, dogs etc etc. With the reform of the gambling act taxes were no longer deducted on either the gambling wager or the gambling winnings (some may remember when you paid 10% tax on all bets, you had a choice of either pre outcome or post outcome) now all the taxes are collected via the bookies/betting companies. A high stakes player may not be paying taxes paye exactly, but he/she will definitely be contributing a great deal to the taxman indirectly by way of rake (sky pokers profits and therefore taxable) Just because an online player of any game does not have a written definable tax deduction in terms of earnings, they do definitely contribute even if they don't realise it!
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  • ACEGOONERACEGOONER Member Posts: 1,435
    edited January 2012
    I do believe tax is payable on poker earnings in the US, would be interesting to see how the IRS enforces this. But its true if the HMRC in the UK cant keep tabs on cash in hand builders, what chance have they got with poker players. 

    The downside to poker earnings not being considered taxable is its a nightmare getting a mortgage. I cant think of one lender who in their right mind would lend money to a poker pro.  
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  • windamonwindamon Member Posts: 219
    edited January 2012
    In Response to Re: do they pay tax?:
    I do believe tax is payable on poker earnings in the US, would be interesting to see how the IRS enforces this. But its true if the HMRC in the UK cant keep tabs on cash in hand builders, what chance have they got with poker players.  The downside to poker earnings not being considered taxable is its a nightmare getting a mortgage. I cant think of one lender who in their right mind would lend money to a poker pro.  
    Posted by ACEGOONER
    ok so thanks for all your input guys,it seems to me that pkr plys are the only self employed earners that can AVOID NOT EVADE tax in this country! happy new year!!!
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  • debdobs_67debdobs_67 Member Posts: 3,615
    edited January 2012
    In Response to Re: do they pay tax?:
    In Response to Re: do they pay tax? : ok so thanks for all your input guys,it seems to me that pkr plys are the only self employed earners that can AVOID NOT EVADE tax in this country! happy new year!!!
    Posted by windamon
    Its NOT just pkr players remember , pro horse  or dog gamblers are also exempt , as looney said any pro gambler doesnt pay income tax
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