Can income from Arbing/Matched-betting be counted against you for Housing-Benefit??

andyandflo

I believe that the comments made above are incorrect. Whilst it was accepted that in the case of Graham v Green a habitual backer of horses was not carrying on a trade, so no Income Tax is due.


However in the alternative case of Partridge v Mallandaine it was found that profits from systematic and habitual betting on horses was held to be carrying on a vocation and therefore assessable to tax.

Some of these cases are old, but knowing the Revenue's attitude at the moment being one of trying to collect as much tax as possible, what odds would you get for them trying to tax your income!!

I would suggest that you tread very carefully.

Errata

I only earn £150 - £250 per week from it anyways so not especially big money.

yeah, yeah. You keep earning yourself £150+ a week and we'll happily pay your living expenses etc. NOT.

Breast_Cancer_Survivor

April84 wrote: »

Thanks for tips but i know for a solid legal fact that even though matched-betting is risk-free,
its still classed under 'gambling' for tax and benefits-disregard purposes,
and so by law does NOT have to be declared to the tax-man or to the benefits service.


I only earn £150 - £250 per week from it anyways so not especially big money.

But im not prepared to miss out on dhps for this though.

Surely if you can earn £150 - £250 p/w tax free you don't need to claim benefits. :T

Indie_Kid

Breast_Cancer_Survivor wrote: »

Surely if you can earn £150 - £250 p/w tax free you don't need to claim benefits. :T

It would be legal (and is possible) to claim a little LHA / HB & CTB earning £150 - £200 per week; but not full benefits.

April84

Breast_Cancer_Survivor wrote: »

Surely if you can earn £150 - £250 p/w tax free you don't need to claim benefits. :T

Sorry but there is no such word as ''need'' when it comes to claiming benefits that you are ''entitled to''.

If im legally entitled to £2,000 per month in benefits even if i have a 80k salary,
while i could manage to survive without claiming it,
as id be entitled to it theres no way on earth that i wouldn't claim every single pound of that benefits entitlement!

April84

Robbie64 wrote: »

the £6,000 lower limit is for Housing Benefit payments. Discretionary payments are not payments of Housing Benefit and take into account all savings, there is no £6,000 disregard.

Ah ok thankyou for your help. :beer:

Il make my further decisions and actions from this point based on that info.

Breast_Cancer_Survivor

April84 wrote: »

Sorry but there is no such word as ''need'' when it comes to claiming benefits that you are ''entitled to''.

If im legally entitled to £2,000 per month in benefits even if i have a 80k salary,
while i could manage to survive without claiming it,
as id be entitled to it theres no way on earth that i wouldn't claim every single pound of that benefits entitlement!

Isn't that the point?

If you declare your income to the DWP & it doesn't matter how you earn it drugs, prostitution, gambling, ebay, family whatever then you wouldn't be legally entitled to benefits.

April84

Breast_Cancer_Survivor wrote: »

Isn't that the point?

If you declare your income to the DWP & it doesn't matter how you earn it drugs, prostitution, gambling, ebay, family whatever then you wouldn't be legally entitled to benefits.

You are incorrect about that actually.


If you earnt it from drugs, prostitution, ebay then you wouldn't be entitled to benefits,
however,
if you earnt it from gambling that is an entire different catergory.



Since if you lost benefits money when you won money through gambling,
then you would also be entitled to ''get benefits money refunded'' when you lost money gambling though.

(Even though matched-betting and arbitrage is risk-free so you won't ever lose that is besides the point as no-one can ever prove if you have matched betted or arbed it)



Thats why you don't have to ever declare gambling profits/losses to the benefits service as they are disregarded as income anyways.

Breast_Cancer_Survivor

April84 wrote: »

You are incorrect about that actually.


If you earnt it from drugs, prostitution, ebay then you wouldn't be entitled to benefits,
however,
if you earnt it from gambling that is an entire different catergory.



Since if you lost benefits money when you won money through gambling,
then you would also be entitled to ''get benefits money refunded'' when you lost money gambling though.

(Even though matched-betting and arbitrage is risk-free so you won't ever lose that is besides the point as no-one can ever prove if you have matched betted or arbed it)



Thats why you don't have to ever declare gambling profits/losses to the benefits service as they are disregarded as income anyways.

If that is the case then why did you feel the need to start a thread?

I can't see you being entitled to discretionary hb if you are earning that much money, not if you are honest on your application anyway.

Indie_Kid

Breast_Cancer_Survivor wrote: »

If that is the case then why did you feel the need to start a thread?

Sounds like boasting to me?

OP - do you have a reliable source (not wikipedia) to back this up?