New Posts For Thread: Tax on gambling winningshttps://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winningsWidely reported that Rachel reeves is to implement a tax on gambling winnings to fill her black hole(apologies to the carry on films)so now we have the nanny state telling us how much we can afford to gamble,followed by the possibility of the state tmarksman - basics are herehttps://www.gov.uk/capital-gains-tax/losseshttps://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564201367#564201367marksman - basics are herehttps://www.gov.uk/capital-gains-tax/lossesTue, 06 Aug 2024 04:40:25 -0500It's a pity that doesn't apply to Premium Charge so that I could claim back some PC when I have losing years.:(https://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564200037#564200037It's a pity that doesn't apply to Premium Charge so that I could claim back some PC when I have losing years.:(Mon, 05 Aug 2024 09:48:32 -0500longbridge, it looks like I'm one of those not well-informed.I never knew that you can use CGT losses to offset gains in the year in which they occur, and reach back and use past years CGT losses against gains in the current year until you posted ithttps://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564200029#564200029longbridge, it looks like I'm one of those not well-informed.I never knew that you can use CGT losses to offset gains in the year in which they occur, and reach back and use past years CGT losses against gains in the current year until you posted itMon, 05 Aug 2024 09:46:40 -0500It really shouldn't be a shock but - in my experience - a lot of people are not well-informed about personal finance.https://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564199817#564199817It really shouldn't be a shock but - in my experience - a lot of people are not well-informed about personal finance.Mon, 05 Aug 2024 08:09:11 -0500Sageform , correct but imagine the shock the people who receive state pension , private pension and still work , that's the pecking order in reverse so workers not aware thinking state is normal , private is normal then seeing their face when openinghttps://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564199713#564199713Sageform , correct but imagine the shock the people who receive state pension , private pension and still work , that's the pecking order in reverse so workers not aware thinking state is normal , private is normal then seeing their face when openingMon, 05 Aug 2024 07:01:47 -0500Exactly, longbridge.https://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564199661#564199661Exactly, longbridge.Mon, 05 Aug 2024 06:33:48 -0500I was going to explain that he was the one who was wrong with this statement (but cba reg'ing and spending ten minutes clicking on motor cycles or traffic lights). Dan says:3 August 2024 at 1:29pmthat’s very interesting. Strictly speaking it’s wrhttps://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564199645#564199645I was going to explain that he was the one who was wrong with this statement (but cba reg'ing and spending ten minutes clicking on motor cycles or traffic lights). Dan says:3 August 2024 at 1:29pmthat’s very interesting. Strictly speaking it’s wrMon, 05 Aug 2024 06:26:07 -0500sparrow / sageformBut how tax is collected makes no difference in the end - you have state pension, a private pension, a total pension income, an amount of tax due on that total - it matters not which income source it is collected from?https://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564199643#564199643sparrow / sageformBut how tax is collected makes no difference in the end - you have state pension, a private pension, a total pension income, an amount of tax due on that total - it matters not which income source it is collected from?Mon, 05 Aug 2024 06:24:57 -0500I wouldn't be so sure about Labour not taxing winnings on account of it upsetting its voters. For a start, the days of when its voters comprised horny-handed toilers who enjoy a bet are long-gone. But never mind that: read that quote from Tax Policehttps://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564199625#564199625I wouldn't be so sure about Labour not taxing winnings on account of it upsetting its voters. For a start, the days of when its voters comprised horny-handed toilers who enjoy a bet are long-gone. But never mind that: read that quote from Tax PoliceMon, 05 Aug 2024 06:16:59 -0500The tax due on my state pension is taken from my occupational scheme which I had been paying in to for 34 years.https://community.betfair.com/horse_racing/go/thread/view/94102/31850047/tax-on-gambling-winnings?post_id=564199619#564199619The tax due on my state pension is taken from my occupational scheme which I had been paying in to for 34 years.Mon, 05 Aug 2024 06:13:38 -0500