Reporting winnings in UK

[punter11235]

Hello,

I want to move to UK to play online poker (it will be illegal in Poland soon). I knwo that gambling winnings in UK arent taxed.
My question is how do you report the winnings ? Is there any info about it ? I asked a few people from UK and they all said they do nothing about it.
I guess if I wont have a job there and spend some money I will need some proof I won it online. HOw all that works in UK ?
(also any info about Ireland is much appreciated).

[Richas]

People from Poland are free to come and live in the UK but the government asks that you register to be able to work. It is a bit of a pointless exercise really but it does let them know how many have come over.

If I were in your situation I would be inclined to register and then look for some sort of part time work, maybe voluntary sector, maybe given your English post was pretty clear working as a translator for citizens advice or self employed helping people with rental agreements etc. Doing this sort of work is good for the mental health and social side even if it is not your main income, it also gives you a small income to declare and to pay some tax on.

There is no requirement to report winnings. The only circumstances where you might conceivably have a problem is if you are found guilty of a crime and they look at your assets, if you can't show where it came from then theoretically they can take them as the proceeds of crime.

You would also face issues with borrowing, renting a place, getting a mortgage if you cannot establish an income but most of these can be overcome with cash if your living expenses bankroll is big enough. The UK is an expensive place compared to Poland.

[punter11235]

Thanks for the answer.
I am not sure if I get how it all works in UK.
Lets say I win some money and buy a house in UK.
Isnt that possiblet that some gov services will ask me about the source of money ? I guess I am supposed to have more to say than "I won the money online" in such situation.
I realize that UK is diffrent country than Poland (where you need to have every cent documented) but still it seems a bit strange that online players usually dont care about reporting anything (and Casino Victoria in Londyn refused to give a proof about winnings to my friend who played there ). Can someone please say a little more about the issue ?

[davmcg]

[ QUOTE ]
Lets say I win some money and buy a house in UK.
Isnt that possible that some gov services will ask me about the source of money ?

[/ QUOTE ]

The lawyer will ask you where you got the funds and if you can't come up with a satisfactory explanation, will almost certainly report it to the authorities as a suspicious transaction.


[ QUOTE ]
(and Casino Victoria in London refused to give a proof about winnings to my friend who played there ). Can someone please say a little more about the issue ?

[/ QUOTE ]

Most casinos in the uk provide a receipt for tournament winnings, but not for cashing chips from the tables or cash games.

[Richas]

[ QUOTE ]
Lets say I win some money and buy a house in UK.
Isnt that possiblet that some gov services will ask me about the source of money ? I guess I am supposed to have more to say than "I won the money online" in such situation.

[/ QUOTE ]

There are all sorts of money laundering regulations that might lead a financial services company, bank or even your accountant to report you as a suspicious person which might get you investigated but so long as you keep decent records (that any pro would want anyway) you can easily demonstrate where the money came from.

Having a life outside poker helps avoid such things, you report a low taxable income and put the rest down as savings/cash. It shouldn't be too much of a problem but records help your game anyway, keep them.

Getting a mortgage could be a real pain though, even self certification of income saying I gamble online might no go down well so winning the bracelet and enough for a house outright might be the way to go.

[chezlaw]

[ QUOTE ]
Quote:
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Lets say I win some money and buy a house in UK.
Isnt that possiblet that some gov services will ask me about the source of money ? I guess I am supposed to have more to say than "I won the money online" in such situation.


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There are all sorts of money laundering regulations that might lead a financial services company, bank or even your accountant to report you as a suspicious person which might get you investigated but so long as you keep decent records (that any pro would want anyway) you can easily demonstrate where the money came from.


[/ QUOTE ]
Yes its fine if you won the money on-line. Its legitimate and comes with a paper trail. They'll be no problem with money laundering accusations.

chez