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Where Taxpayers and Advisers Meet

Do I have to pay tax???

Slotty123
Posts:2
Joined:Tue Jan 12, 2016 5:47 pm
Do I have to pay tax???

Postby Slotty123 » Tue Jan 12, 2016 5:55 pm

Hi I've been self employed for around six years now, but never payed tax. I play fruit machines (like in pubs or amusement arcades) for a living. I was wondering if I am doing anything wrong as my friend (does the same) told me I don't need to. As tax is already paid on gambling. If it makes any difference I make between £500 and £1000 per week. Any help of guidance will be much appreciated thankyou.

section 44
Posts:4467
Joined:Thu Oct 30, 2008 12:47 pm

Re: Do I have to pay tax???

Postby section 44 » Wed Jan 13, 2016 1:13 pm

my friend (does the same) told me I don't need to. As tax is already paid on gambling
irrelevant

If it's a trade or profession etc then you would pay tax on the profits from it

bd6759
Posts:4267
Joined:Sat Feb 01, 2014 3:26 pm

Re: Do I have to pay tax???

Postby bd6759 » Wed Jan 13, 2016 6:40 pm

Gambling is neither a trade nor a profession. There is no tax to pay on your winnings.

http://www.taxationweb.co.uk/tax-articl ... nings.html

Slotty123
Posts:2
Joined:Tue Jan 12, 2016 5:47 pm

Re: Do I have to pay tax???

Postby Slotty123 » Thu Jan 14, 2016 4:01 pm

Welllllll that helped :|


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