Home Based Enterprises & Interest Beater Challenge.

sophiesmum_2

Another £2.75 to add to my stash. Sold a book on amazon and cleared that after postage costs.

Didn't have any luck on the bingo, but will try again next week after seeing you others
win something:T


New total £244.80

LilacPixie

OOO you are all doing so well.

I have nowt to add as of yet. Thinking of having a go at this free bingo next week and maybe looking at some of the threadson matched betting.

System

Hi, is there room for another one on this challenge? If it's not too late I will go for £500 too. :j Just made my first withdrawal on Slicethepie for £5.05......only another 2 million tracks to go and I would probably hit target lol

Frugaldom

Welcome to this mini-challenge Rachel, I have added your name to post 1.

Good luck with your story submission, Marru.

Can anyone tell me if bingo winnings are tax free? Thanks

System

I think bingo winnings are tax-free, aren't they the same as gambling ones which are.

Marru

I agree with rachelja, HMRC lists premium bonds, lottery wins and gambling wins as excludable form the taxable income. So bingo should definitely fall into this category.

Marru

LilacPixie

Yes Nyk they are tax free and thats is a definate not a maybe or a should

Frugaldom

Excellent! Thanks for the thumbs up on the tax free status which, I am assuming, means they don't need to be declared on my tax return. EVEN IF I'D WON £20,000, I wouldn't need to declare it? I'm a little confused now... does that mean that a professional gambler (assuming there is such a thing) doesn't need to file a tax return, just pay tax on any interest earned on his bank account?

I am neither condoning nor advocating gambling, I am just curious, as it seems strange that you should be able to win this money without actually spending any money, so is it really gambling?

Edited in: I'm getting grumbled at for asking such stupid questions, why can't I just be happy to win the money and say nothing more about it? :rotfl: Sorry, it's my number-crunching affliction kicking in again.

System

it must be gambling, cos even through your not risking your own money, the money you get is gambled money

i was telling my mum about the free bingo and she reminded me that the last thursday of each month os free bingo day at real-life gala bingo, we might start going to it (and leaving my computer running on autodab for online bingo!!!)

my lovely mummy told me not to bother paying back the £13 i owed her from last week (couldnt be bothered to go to a cash machine) so im gonna put that in the IB/UC fund

plus i found two 1ps for my money box (gonna wait a while and tot it up to make it more exciting )

bails

Great news about the bigno winnings being tax-free Nyk! Good luck with your story Marru, you've reminded me I must get my course back out so thanks. I think I may even know where it is after today!