Ostroff, Fair and Company
*Ostroff, Fair and Company>>>United Kingdom Taxes

I am a pro gambler - i.e it is my only source of income. Do i need to declare my winnings to the taxman?


i use exchanges and online bookmakers and live in the uk.

In the Uk winnings from gambling are tax free. Correspondingly you cannot claim as a tax deduction any expenses or losses.
yes, and you can also declare a loss! (in US)
Yea Buddy you bet
Yes you do and if you lost money you can declare that too.
in the US any winnings from gambling, professional are leisure, are to be declared to the taxman. I can only imagine that the law is the same across the pond. however, you might be able to escape paying taxes depending on how well your tracks are covered by your exchanges and bookies.
yes you must declare winnings as income, but losses, travel expenses, entertainment (legit businesses only), And other gambling related expenses are a write off
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