My income is not taxable, so.......

treenyttt

........am I entitled to tax free interest on my savings?

To elaborate - I play online poker for a living and under current UK law gambling winnings are not taxable. I was looking over this site and then it occured to me that although I make a comfortable living, I don't meet the income tax threshold of ~5k. As far as the taxman cares I earn £0 every year. Therefore, am I entitled to tax free interest on my savings?

dzug

If they are your only taxable income then yes, up up the personal allowance.

Mikeyorks

treenyttt wrote: »

Therefore, am I entitled to tax free interest on my savings?

Assuming the interest on them doesn't exceed your personal allowance.

Murdina

Please make sure that you can evidence, in detail, each and every winning in on line poker. Once HMRC become aware of you, they may wonder how you manage to live and start to ask some questions. When I worked for them many years ago, standard practice in relation to gambling winnings was to insist on full details and, in their absence, to assume that the money came from some taxable source. Such an approach is hardly surprising I am sure you will agree.