#1
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EEC: Poker-tax in UK compared to Denmark
<font color="red">Denmark</font>
Online In Denmark poker-winnings from Europe-based online pokerrooms such as: Partypoker, Eurobetpoker, Interpoker, Ladbrokes etc. are taxfree. But, non europe-based sites like, PokerStars, Fulltilt etc. are fully taxe as income (60%+) if you make alot. Live Same thing: Casinoes within Europe: like EPT and cash-games, winnings are taxfree. But outside Europe like WPT, EPT finals in Monaco and Cashgames i.e. Las Vegas, Caribean are taxed as normal income. <font color="red">UK</font> I have heard that in UK all poker-winnings are tax free, both online PokerStars, FullTilt and live WPT main event in Las Vegas. Can anyone from UK confirm that ? I have the same about Sweden ? I am interested in hearing about any contry where that is the fact: Non Tax on all pokerwinnings - inside/outside EU and Online/live!!!!!!!!!!!! |
#2
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Re: EEC: Poker-tax in UK compared to Denmark
Yes it is true in the uk you are not taxed on poker winings which is a good thing only downside is trying to get credit like a mortgage ect because you have no accounts, can't prove income ect. |
#3
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Re: EEC: Poker-tax in UK compared to Denmark
Damn, I wish I remember the exact rules, but as far as I can recall Sweden is just like Denmark with regards to taxes on poker winnings.
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#4
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Re: EEC: Poker-tax in UK compared to Denmark
[ QUOTE ]
Damn, I wish I remember the exact rules, but as far as I can recall Sweden is just like Denmark with regards to taxes on poker winnings. [/ QUOTE ] Almost the EU rules are the same regarding which sites are taxed, however gambling winnings are taxed with capital gains tax 30%, and thus not contributing to pension. An intresting note is that each individual pot is considered a play that should be taxed and losses are not deductable. Hence if swedish players were to file their taxes according to the law everyone who played at a non EU would have a huge tax debt. Taxes= 30% of all pots won - 0 since deductions for pots lost is not allowed. |
#5
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Re: EEC: Poker-tax in UK compared to Denmark
[ QUOTE ]
Yes it is true in the uk you are not taxed on poker winings which is a good thing only downside is trying to get credit like a mortgage ect because you have no accounts, can't prove income ect. [/ QUOTE ] Damn, sounds nice, i am thinking about moving to London, because i want to play at PokerStars and FullTilt. About credit: What do mean about accounts: you can get a normal account with a Visacard if you just deposit some into the account, right ? In Denmark you can get a mortgage as a pro poker player; but it is more difficult. You have to put a bigger amount down, since the bank set your income at 0; think it's about 30% of house price(Normally 10% if you have a good job). So why are all poker Pro's not living it up in UK - has to be a huge advantage over time (Taxfree WPT winings, play online whereever you want taxfree etc.) - and who don't want to have their base in London anyway ? Thanks for the answers I am moving [img]/images/graemlins/smile.gif[/img] |
#6
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Re: EEC: Poker-tax in UK compared to Denmark
You're moving because you want to play on Stars and FT?
eh? |
#7
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Re: EEC: Poker-tax in UK compared to Denmark
i want play at a site where there are lots of traffic and rakeback (fulltilt), and i don't wanne pay tax if i win big in Las Vegas.
And i can visit my freinds in Copenhagen for $100 return flight, and i would like to live in London. |
#8
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Re: EEC: Poker-tax in UK compared to Denmark
If you move to the UK (say from the USA), do you have to get rid of your US citizenship and become a UK citizen before you don't have to pay tax?
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#9
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Re: EEC: Poker-tax in UK compared to Denmark
[ QUOTE ]
If you move to the UK (say from the USA), do you have to get rid of your US citizenship and become a UK citizen before you don't have to pay tax? [/ QUOTE ] You can't do this so it doesn't matter. Was fun idea while it lasted though. |
#10
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Re: EEC: Poker-tax in UK compared to Denmark
[ QUOTE ]
[ QUOTE ] If you move to the UK (say from the USA), do you have to get rid of your US citizenship and become a UK citizen before you don't have to pay tax? [/ QUOTE ] You can't do this so it doesn't matter. Was fun idea while it lasted though. [/ QUOTE ] You can't? |
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