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Serious question
Ok, so my mum just handed me a form. She has applied for some sort of benefits (idk what exactly) and basically the council are wanting to know where my income has been coming from. because i am unemployed and dont claim benefits myself. my income for the last 20 months or w/e has been soley from poker.
So yeah, i have a form basically asking what my job is. I know poker winnings is non-taxable, although im pretty much a noob when it comes to life stuff like this ha.
Now, serious question (maybe pretty dumb) but say i just basically say i earn money from poker, this wouldnt come back to bite me in the rear end would it. like theres nothing they can say? and would this affect my mum with her claim?
Cheers in advance. x
Comments
seriously say nowt, simply say you have been living of saving which you have little left.
They are really asking if you have a regualar income from a taxable job, rent income from property, shares and bonds that sort of thing, absolutly no need to mention poker winnings. and you are probably missing out on some benifits yourself which you are entiled to.
as far as i am aware ( things may have changed now ) you cannot make retrospective contributions after a six year lull.
this probably sounds really boring and obsolete i know but if you're going to be a pro-player, even on a modest income, you could probably do with making a visit to an accountant regarding all of your fiscal responsibilities and options.
this would also help you understand the sort of situation you are in now. i'm not a politician but i wouldn't be surprised if this current administration decides to tax online poker winnings at some point, given the current financial climate. so make hay while the sun shines.
generally speaking i've yet to speak to a person that didn't cover their accountancy fees from the benefits that they received through using such service.
IN SHORT THEN, IN PLAIN POKER PLAYER SPEAK, ACCOUNTANTS ARE +EV !
you dig man ?
You'll be fine (I'm an accountant (shhhh)) they won't try to tax you as otherwise i'll be able to claim a yearly refund for losses ;-)
In Response to Re: Serious question : this is good advice, "man".
Posted by diablo_pez
Thanks, "Sir".
On a note to the OP. If they gave you a form, and anti to some of the suggestions be very careful if you decide to not tell the truth on it. It will be impossible to for them to see what money you have on your poker account, but not so impossible if you take off winnings and place them in a bank account. While they can't view your bank account, they could ask for bank account records to see what you've been doing, or they can request information that would give them an estimation of your account balances based on the interest you've earned from those accounts.
So be wary on what you choose to do. If in doubt, and as I doubt to many will be certain of the answer on here, I would ring them up and ask the question directly. Not like you'd have to say who you are and so on, but just say you are rinning up for general information and ask what things will effect her claim. Last thing you want is to mess up and get you or your mum into trouble down the line for some benefit fraud.
brm extends beyond the poker table.
it's a pretty good leap in the development of Sky Poker when people can talk openly on the forum about what to do with their money once they are earning it in a relatively consistent way don't you think ?
i would fill in the form saying that you are unemployed as you don't have a taxable income. you are not claiming anything you're not entitled to and technically you are unemployed and entitled to benefits which you are choosing not to claim so there shouldnt be any problems. it shouldnt have any impact on your mum's form as far as im aware
also, if they were to question why you have a lot of money in your bank there would be no issue in proving where the money in your bank is coming from as it is all linked clearly to a multi national company who i assume follow all the relevant gambling legislations. even then there will be no difference as this money is (currently) non taxable
in my experience the only time there are concerns is when there are large (10k+) sums of money going into your account without a clear and legal source.
Hate to see to much advice given on a subject like this to someone as unless they know for sure then you could be encouraging him to get himself into legal issues for him or his mum. Just my thoughts, but far easier if he just makes a phone call and asks them without saying who he is or what case its regarding etc. So he can then make the choice with the full facts. Rather than a bunch of half guesses from us.
Hi Hurst05 The State Pension will not apply to persons born before and under certain age. I know my Boys will not be eligible for State pension even though they contribute to the Scheme. They will need to pay into a Private Pension Fund to expect anything when they retire. People who don't bother will have to rely on Income Support Benefits. I think.? fwiw Hugs Annie xx
Point 1,
Does any Butcher, Baker, Candlestick Maker, Managing Director or Poor Soul on benifits, ever walk out of a bookies, casino, with a little win & break a law, by NOT letting tax office know........NO!!
Conversley, same scenario, if they lose, are these loses tax deductable on future winnings or earnings.... NO!!
Has the government any way of measuring gambling winnings or loses .... NO!!
So that solves that,
YOU SAY NOTHING ABOUT POKER!!
Read Ian's, [Macmonster's], &others, advice regarding any future taxable poker earnings tho! ie Sponsorship, appearance, journalistic income!
Point 2,
Has your mum, her family, her forefathers, lived worked, fought for, paid dues when they can in This country, in past & Now?
......Now i dont know......but the answer for most of us families is ...YES!!
If your Mum needs the benifit at this time, what really the F. has it got to do with anyone, OR HOW YOU Earn your income!! They will have a clever answer, but really the form situation is shocking!!!
They need to look at area's where non tax payers are earning fortunes out of renting accomadation to benifit claimers and the like, & at other end, Bankers retired away on massive pensions after fooking our country over!
I feel i can comment on this issues without anybody making any assumption on my politics as i run & own a company which probably contributes over 100k every year to system in various taxes!!
When i see the waste of goverment money in benifit fraud & banks & finance institutions running & robbing our country it sickens me!!
However, I know Your intentions here, are honorable hursty, but in your situation, i would defo be 'signing on' without embarrasment, and meybe just give ALL the money to your Mum, SHE deserves it!!
The future will be tough, LOOK AFTER YOUR FAMILY & YOURSELF mate!!
if in future, some taxable Poker income may come your way, {PS, it defo will mate!}, then you will be in a position to easily become self employed or other!! if you have an employment 'HOLE' it will only cause you possible problems!!
PS dont answer this, as some will not agree with MY advice, regarding it maybe immoral, THE MORAL THING IS TO LOOK AFTER YOUR OWN & FAMILY!!
Run GOLDEN, WITH TAX-FREE WINNINGS!!!!! [but go easy on me as i'm a lil' poker HitDonk}
Who knows what may happen in future!!
ps my politic is complicated & obtuse, like me, which is why i rarley touch on it, so i wont comment further!!
LOL!!
PPS Hursty, will always dance you off the floor mate!!! lol
One thing also hurst. You might already be aware but....When the time comes for you to flee the nest (lol) it may be hard to find a place to rent (in your name) if that is what you are planning to do, because alot of landlords or letting agency's don't like tenants to rely on Gambling earning. whether you are a winning player or not.
huh ?
Maybe change to British Commonwealth, be better & more to point of what i wanted, families who have contributed to Our Countries history & success's, that is Now being totally diluted & weakened!!
Any way off topic, would you like me to change that comment or do you understand?
that last bit does sound a bit Hitlerian if you don't mind me saying so.
Hitlerian, lol, Mrs Hitwife has called me a fookin lil'hit ler before, so meybe!!
Thanks for pointing out the potential pitfalls in mi posts, no offense intended, meybe you can check all my future posts!!!
Anyway was on ma soap box a bit, so sry, Harlesden upbringing coming out meybe....
however, do you want to delete our last few posts so hursty's thread is noy seemingly hi-jacked??
have a great day, have sent you friend request, no hard feelings!
As far as anyone is concernced your just a degen able to live off winnings from gambling
simples
So, if you have high savings, & mum does not, just top both accounts to the required max!
heaven forbid, someone suggests, several accounts, but a good financial adviser will help with legal alternatives!!
GL!!