Paying Tax on gambling?

BlueLuke

Hi,

I have recently won quite a bit of money doing online poker and I was wondering do I pay tax on this or is gambling tax free?

Any information is much appreciated.

Thanks

Procrastinator333

Gambling and games of chance are tax free.

Lottery winners don't pay 40% to the taxman.

Enjoy!

Soubrette

Procrastinator333 wrote: »

Gambling and games of chance are tax free.

Lottery winners don't pay 40% to the taxman.

Enjoy!

Is the exception to this if you are a professional poker player Procrastinator? ie poker is your profession.

I'm asking because I have a vague memory of reading this - I may alternatively have dreamed it though

Sou

Procrastinator333

I haven't studied tax for a while and it was part of my accountancy training, so happy for anyone to correct me, but I thought poker is deemed a game of chance / a gamble and not taxable.

type "are poker winnings taxable" in to google.

one of the top links:

http://www.thehendonmob.com/forum/viewtopic.php?t=27400

Forum on a poker site about it. No tax. Enjoy!