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Are Gambling Winnings Taxed in the UK
18,Apr 2013
We have been getting a lot of questions about gambling winnings and the taxes in the UK recently so we decided to do a post and provide more information on this matter.
The short answer is that in the UK as long as you are a British citizen your gambling winnings do not get taxed. It doesn’t matter if you win a few hundred quid or thousands of pounds, it’s yours to spend and at this stage it doesn’t get taxed. Specifically Gordon Brown in 2001 announced that bookmakers would be taxed 15% allowing gamblers to bet free in the UK without having to pay tax.
So unlike the US were gambling winnings are taxed by IRS and professional gamblers have to file as a self employed business, in the UK no matter how much money you win it doesn’t get taxed. This also applies for professional gamblers as it’s extremely difficult for the UK government to specify who is a professional gambler that plays every day. This doesn’t apply to gamblers from different countries complaining about winnings, if you are not a UK resident & British citizen we suggest you research the local laws to ensure that you are not doing anything illegal. Hope this will cover your questions, gamble away! So if you are based in the UK you are lucky as we have very liberal gambling laws.
As for Ireland it’s pretty much the same as the UK, the law states that any winning from games, online casinos, lotteries & prizes are not taxable. One of the main differences in gambling laws in Ireland is that if you run an online casino as of 2010 you need to pay a license and tax to the Irish government, this however doesn’t affect punters gambling online.
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