General Betting
There is currently 1 person viewing this thread.
14 Feb 12
15:11
Joined:
Date Joined:
17 Sep 02
I obviously have some income from my current account interest, but apart from that my only income is from gambling.
I know I don't pay tax on my gambling returns, but should I be filling in some sort of self-assessment form on an annual basis? Or do I not need to do a thing?
TIA.
I know I don't pay tax on my gambling returns, but should I be filling in some sort of self-assessment form on an annual basis? Or do I not need to do a thing?
TIA.
sort by:
Show
per page
Replies: 9
|
By:
see long thread below
|
|
By:
You don't need to do anything. If you get a random form from them asking what you are doing, just put down unemployed, or retired or whatever is relevant to you.
|
|
By:
lol the OP
 |
|
By:
Shouldn't you be paying National Insurance?
|
|
By:
jesus christ, op
i hope this is a level.... |
|
By:
666_v 29 Feb 12 02:57
Shouldn't you be paying National Insurance? _____________ i would like to know the answer to this myself |
|
By:
I am self employed with an accountant
I only earn around 10k per year with the expenses I claim for petrol and clothes etc...I dont pay any income tax I dont pay any income tax but i do pay around £10 per month N.I OVER THE LAST 4 YEARS I have been making around an extra 10-20k tradind on betfair I was told by my accountantant that any money made on BETFAIR is fully accounted as winnings and not earnings therefore it is not taxable and there is no reason to declare anything you make on betfair. Not only this if you were ever looked into by the inland revenue you have full proof were the money came from via bank statements therefore there is nothing to worry about. |
|
By:
I have been full time on here for ten years and have never received any communication from HMRC.Regarding N I contributions you can make voluntary contributions if you wish but only need 30 years contributions to receive the basic state pension.Ask for a projection if you want to know how you stand.
|
|
By:
Thanks for the replies. I'm aware I don't pay income tax, I just wasn't sure if I had to fill in some forms to say I still exist. I'll carry on as I have been doing.
|