Tax question

valor

he better be otherwise i am moving to guatemala or w/e

Van Dice

valor wrote: »

he better be otherwise i am moving to guatemala or w/e

+1

jem

eoghan104 wrote: »

You Pay the rake in the first place so its just like getting a refund so there is no Tax issue there.

i agree, effectivly it is a discount.

Norwich Fan Rob

yeah, i would also be moving somewhere sunny, with nice golf courses, and no tax........

MrPillowTalk

Why so against paying tax, we all use roads, health system etc etc is there a reason I cant think of that poker players shouldnt pay their way?

Personally I dont think they will introduce income tax for poker players due to the difficulties in assessment however in principle I dont see why they shouldnt.

Goodluck2me

valor wrote: »

he better be otherwise i am moving to guatemala or w/e

Dotsy too?

Macspower

goodluck2me wrote: »

Dotsy too?

Playboys of the pokerplayer mansion??

nice idea

Mellor

I don't think poker will become taxable. People are concentration on this like there are alot of players making alot and it makes sense to tax it. But what about players that are losing? If they tax winning players on profit from poker, losing players will be able to write off loses. And poker players lose money on average. So this probably wouldn't be a great move on the revenues behalf.

It makes more sense having no tax on poker, therefore having more players playing the game, and higher profits for the casinos, and more tax for the revenue from tax on the casinos profits.

phantom_lord

Mellor wrote: »

losing players will be able to write off loses.

against what?

Goodluck2me

phantom_lord wrote: »

against what?

following years wins, provided a big donkament win etc... they could ringfence cash though which would be bad.

Taxipete29

phantom_lord wrote: »

against what?

Against income from other sources, because lets face it if your a losing player you have to be getting cash to live off from some where

Jesus Wept

I recently applied for a Halifax (known as Bank of Scotland outside of Ireland) Current Account. (10% on balances upto 2k, would be nice to get paid to bank instead of getting shafted by BOI).

Apparently the regulators/revenue/tax peoples/related someones are making Halifax make prospective customers jump through a lot more hoops than you would for other banks, a lot more forms/proofs of address/tax credit forms to be produced, because they fear money laundering.

I was able to produce bills, bank statements, passport etc, however the most recent Tax credits letter I have is from a previous address I lived at.

I called the tax office and asked them to send me something to my new address, anything, a change of address letter, my tax credit info for the year, something, anything. No, they won't do it. They said they can only send them if you are starting a new job, they refused to even take my new address details.

So it looks like I won't be able to open the account.

Fúcking useless they were. I actually would probably have less hassle opening the account if I signed on the dole. (which I have zero desire to do and would feel really odd to me), or If I started a job for a day/week/enough time to get them to acknowledge me and sent me out a piece of paper with their letter head sent to my address.

So it's a bizarre situation poker players are in, we aren't doing anything illegal, we are paying all the tax we are due (zero) but we are ignored by the system in all respects, we don't exist to it, we are in a black hole in some respects.

Anyone have a solution/anything similar happen?

Taxipete29

The-Rigger wrote: »

I recently applied for a Halifax (known as Bank of Scotland outside of Ireland) Current Account. (10% on balances upto 2k, would be nice to get paid to bank instead of getting shafted by BOI).

Apparently the regulators/revenue/tax peoples/related someones are making Halifax make prospective customers jump through a lot more hoops than you would for other banks, a lot more forms/proofs of address/tax credit forms to be produced, because they fear money laundering.

I was able to produce bills, bank statements, passport etc, however the most recent Tax credits letter I have is from a previous address I lived at.

I called the tax office and asked them to send me something to my new address, anything, a change of address letter, my tax credit info for the year, something, anything. No, they won't do it. They said they can only send them if you are starting a new job, they refused to even take my new address details.

So it looks like I won't be able to open the account.

Fúcking useless they were. I actually would probably have less hassle opening the account if I signed on the dole. (which I have zero desire to do and would feel really odd to me), or If I started a job for a day/week/enough time to get them to acknowledge me and sent me out a piece of paper with their letter head sent to my address.

So it's a bizarre situation poker players are in, we aren't doing anything illegal, we are paying all the tax we are due (zero) but we are ignored by the system in all respects, we don't exist to it, we are in a black hole in some respects.

Anyone have a solution/anything similar happen?

Apply for a tax clearance cert(can do this online if im not mistaken). This will then have your new address on it and should more than satisfy the bank. It basically states that your tax compliant. The bank looking for your tax details sounds a bit fishy to me.I opened a new current account with the Ulster Bank bout a month ago and just needed the standard licence/passport and proof of address so dont understand why it would be different for Halifax.

Macspower

This is another interesting angle on things.....

To get a mortage you need a tax clearance cert... would this be a problem for us poker players?

Taxipete29

Macspower wrote: »

This is another interesting angle on things.....

To get a mortage you need a tax clearance cert... would this be a problem for us poker players?

This might be tricky if you have no other source of income that you are paying tax on. I think the only thing to do would be be to file returns for the years that you would have no income other than poker. As your not taxable on poker winnings you liabilty would be zero but you would be in the system as tax compliant. Are there banks that would give a mortgage to a pro player?

pok3rplaya

I'd say as a poker player your chance of getting a morgage is nil. Who cares though, just buy the house with cash!

Haven't contacted the tax office yet. Will post when I do.

phantom_lord

Taxipete29 wrote: »

Against income from other sources, because lets face it if your a losing player you have to be getting cash to live off from some where

could u do that? i don't know much about the tax system, haven't paid a cent in income tax in my life, but i would have thought that they couldn't write off poker losses against taxes from other income? Only against future poker earnings?

eoghan104

phantom_lord wrote: »

can u do that? i don't know much about the tax system, haven't paid a cent in income tax in my life, but i would have thought that they couldn't write off poker losses against taxes from other income? Only against future poker earnings?

You cant write off poker losses against other Income that would be insane!!

Macspower

Taxipete29 wrote: »

This might be tricky if you have no other source of income that you are paying tax on. I think the only thing to do would be be to file returns for the years that you would have no income other than poker. As your not taxable on poker winnings you liabilty would be zero but you would be in the system as tax compliant. Are there banks that would give a mortgage to a pro player?

ther are banks that wil give you a mortage when your on the dole...but the interest rates are crazy

Jesus Wept

Taxipete29 wrote: »

Apply for a tax clearance cert(can do this online if im not mistaken). This will then have your new address on it and should more than satisfy the bank. It basically states that your tax compliant. The bank looking for your tax details sounds a bit fishy to me.I opened a new current account with the Ulster Bank bout a month ago and just needed the standard licence/passport and proof of address so dont understand why it would be different for Halifax.

Thanks Pete, I'll give that a whirl.