New Posts For Thread: Old betting tax questionshttps://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questionsCan someone tell me ... if you didn't pay tax on your stake were you charged tax on your total returns or just the profit part?Many thanks :)Rocket to the FACE Joined: 28 Oct 08Replies: 9265 18 Feb 11 23:45 Haven't read that one, is it worthwhile ? Yes, it is utterly outstanding.You'll need to get a copy from eBay or Amazon though...https://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486492473#486492473Rocket to the FACE Joined: 28 Oct 08Replies: 9265 18 Feb 11 23:45 Haven't read that one, is it worthwhile ? Yes, it is utterly outstanding.You'll need to get a copy from eBay or Amazon though...Sat, 19 Feb 2011 12:18:32 -0600Yes it did I swear. I am not sure about the 15 pence but it was about that.Actualy most of the bookies on course as today were quite nice but there were a few who were a bit dodgy.Another time when I was in my late teens I got involved in a much morehttps://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486422553#486422553Yes it did I swear. I am not sure about the 15 pence but it was about that.Actualy most of the bookies on course as today were quite nice but there were a few who were a bit dodgy.Another time when I was in my late teens I got involved in a much moreFri, 18 Feb 2011 18:58:00 -0600By: This user is offline. getting better Date Joined: 28 Aug 01 Add contact | Send message When: 19 Feb 11 00:25 Once when I was about 15 I was short changed by a bookie and I stood near his pitch and told people not to bet with him, until eventuallyhttps://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486421329#486421329By: This user is offline. getting better Date Joined: 28 Aug 01 Add contact | Send message When: 19 Feb 11 00:25 Once when I was about 15 I was short changed by a bookie and I stood near his pitch and told people not to bet with him, until eventuallyFri, 18 Feb 2011 18:46:33 -0600It was only 4% on course. But some bookies used to try to diddle you and charge more.Once when I was about 15 I was short changed by a bookie and I stood near his pitch and told people not to bet with him, until eventually he caved in and paid me thehttps://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486419281#486419281It was only 4% on course. But some bookies used to try to diddle you and charge more.Once when I was about 15 I was short changed by a bookie and I stood near his pitch and told people not to bet with him, until eventually he caved in and paid me theFri, 18 Feb 2011 18:25:35 -0600Tax in Ireland around 25-30 years ago was 20%,paid in advance and no choice whether to pay or not,this was got around by writing your stake to one tenth of its value ie £10 became a pound in a betting office you were known, bookmaker and customer wehttps://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486417105#486417105Tax in Ireland around 25-30 years ago was 20%,paid in advance and no choice whether to pay or not,this was got around by writing your stake to one tenth of its value ie £10 became a pound in a betting office you were known, bookmaker and customer weFri, 18 Feb 2011 18:04:59 -0600Haven't read that one, is it worthwhile ?https://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486415037#486415037Haven't read that one, is it worthwhile ?Fri, 18 Feb 2011 17:45:32 -0600Mark Coton deals with this topic briliantly in "Value Betting"To surmise [from memory]: better to pay tax when bet is struck i.e. physchologically,the punter is already beaten if they don't do so, as they don't believe they have value[in the case ofhttps://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486412469#486412469Mark Coton deals with this topic briliantly in "Value Betting"To surmise [from memory]: better to pay tax when bet is struck i.e. physchologically,the punter is already beaten if they don't do so, as they don't believe they have value[in the case ofFri, 18 Feb 2011 17:22:37 -0600Trevh, the old system doesn't make sense. The way it's done currently is far better. The bookie pays it directly. Seeing as the current system allows for minuscule margins, its so much better for the consumer.Gambling is tricky, because on the one hahttps://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486408393#486408393Trevh, the old system doesn't make sense. The way it's done currently is far better. The bookie pays it directly. Seeing as the current system allows for minuscule margins, its so much better for the consumer.Gambling is tricky, because on the one haFri, 18 Feb 2011 16:45:07 -0600Trev TYou think gambling isnt taxed!!! .....think againthe bets you make are ALL taxed to some degree - the govt makes millions and the bookies make millions - so just WHO is paying the tax!!your tax is taken in the 'underround' on every bet you mahttps://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486407593#486407593Trev TYou think gambling isnt taxed!!! .....think againthe bets you make are ALL taxed to some degree - the govt makes millions and the bookies make millions - so just WHO is paying the tax!!your tax is taken in the 'underround' on every bet you maFri, 18 Feb 2011 16:37:59 -0600surprised but happyhttps://community.betfair.com/general_betting/go/thread/view/94082/27027265/old-betting-tax-questions?post_id=486312493#486312493surprised but happyThu, 17 Feb 2011 20:37:50 -0600