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Gambling winnings...count as an income?
Comments
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General_Grant wrote: »What do you mean by that question?
Is the gambling a way of laundering untaxed earnings...0 -
No, there is absolutely no tax on gambling in the UK, doesn't matter how much you win.
https://www.casinoguide.co.uk/gambling-winnings-tax
Another way to make money, which is a form of gambling (but with more stable odds) is to buy and sell classic cars. If they are a hobby and you run them for a while whilst their value appreciates, then sell them, you are not liable to pay CGT (capital gains tax) because they are regarded as a "wasting asset".0
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