New Posts For Thread: How often are you paying more commission than you actually winhttps://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-winhad a few bets on outright snooker yesterdayif Robbo wins market says my profit is and will pay comm on that amount(not much profit by the way) but it will not take into account the other few bets from players gone out So in effect as betfair settledcheers ladshttps://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547060653#547060653cheers ladsSun, 06 Dec 2015 18:16:10 -0600Yeah Darren that sounds about right.It years since I looked it up and got a few wires crossed.I forgot the death bit and just remembered it was liable for income tax rates.That said if like me you have other interests and have tax returns to file thehttps://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547060143#547060143Yeah Darren that sounds about right.It years since I looked it up and got a few wires crossed.I forgot the death bit and just remembered it was liable for income tax rates.That said if like me you have other interests and have tax returns to file theSun, 06 Dec 2015 17:23:53 -0600nice one wit-ham. i won £2.50 myself today.https://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547059961#547059961nice one wit-ham. i won £2.50 myself today.Sun, 06 Dec 2015 17:08:03 -0600don't spend it all at oncehttps://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547059931#547059931don't spend it all at onceSun, 06 Dec 2015 17:06:36 -0600Ok only payed comm on the overall profit of £3 solves that onehttps://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547059781#547059781Ok only payed comm on the overall profit of £3 solves that oneSun, 06 Dec 2015 16:54:55 -0600dustybin, you can make a gift payment of more than 3k a year and it only becomes liable to max 40% IHT if you die within 7 years of making it, and that amount of tax tapers off after 3 years of being made, 20% reduction each year, as I understand it.https://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547059495#547059495dustybin, you can make a gift payment of more than 3k a year and it only becomes liable to max 40% IHT if you die within 7 years of making it, and that amount of tax tapers off after 3 years of being made, 20% reduction each year, as I understand it.Sun, 06 Dec 2015 16:34:14 -0600Latalomne had two bets on snooker yesterday at market says win 13 quidbut if all other bets which now do not show are taken into accountI win a whole pound before comm,all i was wondering was do i pay comm on the £13 or the £1must admit never thoughttps://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547058659#547058659Latalomne had two bets on snooker yesterday at market says win 13 quidbut if all other bets which now do not show are taken into accountI win a whole pound before comm,all i was wondering was do i pay comm on the £13 or the £1must admit never thougSun, 06 Dec 2015 15:32:24 -0600Well yomomma,The reason I chose not to is because I believe the risk is too high for my situation.I suspect you mean accounts in other people's name (don't answer that)The inland revenue allows 3k per person per year 'gift allocation'.If you transferhttps://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547057677#547057677Well yomomma,The reason I chose not to is because I believe the risk is too high for my situation.I suspect you mean accounts in other people's name (don't answer that)The inland revenue allows 3k per person per year 'gift allocation'.If you transferSun, 06 Dec 2015 14:44:55 -0600Are we talking about lay bets, Wit-ham? It sounds very much like you're talking about retained commission. You pay commission based on your net position on a market once it has been settled for good. Betfair retains commission along the way basedhttps://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547057591#547057591Are we talking about lay bets, Wit-ham? It sounds very much like you're talking about retained commission. You pay commission based on your net position on a market once it has been settled for good. Betfair retains commission along the way basedSun, 06 Dec 2015 14:39:18 -0600y dont u open new accounts like everyone else? i havent paid any pc and don't plan on ever doing so.https://community.betfair.com/chit_chat/go/thread/view/94038/30624483/how-often-are-you-paying-more-commission-than-you-actually-win?post_id=547057525#547057525y dont u open new accounts like everyone else? i havent paid any pc and don't plan on ever doing so.Sun, 06 Dec 2015 14:37:36 -0600