Tax on bets from bookies?

Discussion in 'General Betting Board' started by linsome, May 31, 2018.

  1. linsome

    linsome New Member

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    Hey all. I'm new so please bear with. :)

    I often bet on matches and races, and recently have been much more successful in doing that. Most of the time anything I win would pay for my first pint on a good day, but income is income and the govt still expects a chunk of it I assume. Can someone confirm for me if bets are indeed taxable? Checking out this tax calculator it says I'm very close to the next tax band (according to this calculator https://www.after-tax.co.uk/ ) and I'm sure the government would love to take half of everything I make:emoticon-0105-wink:

    Cheers.
     
    #1

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