Tax returns as an Irish poker player

[Valor]

Do other people who play full time do that? Do a tax return to the revenue claiming NIL earnings? Is there any requirement to do that?

[galwaygiant]

They've 100% safe ATM, but don't go tapping the glass please.

Mods can you lock this thread now please

[Lplated]

Hello guys,

I have had an official answer from Irish revenue.

They advise me to fill the ROS online, and enter NIL profit for 2011 under Income From Trades, Professions or Vocations (because that is my only source of income).

Maybe law will change in the next future, but right now, poker winnings are not taxable (as stated by others in this thread).

Thanks.

For taking the time to find out, and for providing that information publicly.

I would have been suprised [shocked even] at any other response from the Revenue, but all the opinions in this thread and elsewhere are just that, opinions [even if we have an excellent basis for that opinion] - something cast-iron like an advise from Revenue is invaluable.

[Lplated]

Mods can you lock this thread now please

There is a reason there is no fear that tapping the glass will do any harm is the same reason that people itt were able to be quite confident in our opinions -- the net amount lost by gamblers [including poker players] in Ireland every year is 100's of millions [over a billion perhaps?].

If the Revenue were to seek to tax those lucky enough to be profitable, they would have to allow the non-profitable gamblers to make a claim for tax back with their loses, or carry over those losses until they made a profit or whatever.

The whole area would be a huge waste of time for the Revenue, there would be a couple of percent of gamblers [5%, less?] making a tax return and paying money, the rest would be seeking tax back.

[corkie123]

There is a reason there is no fear that tapping the glass will do any harm is the same reason that people itt were able to be quite confident in our opinions -- the net amount lost by gamblers [including poker players] in Ireland every year is 100's of millions [over a billion perhaps?].

If the Revenue were to seek to tax those lucky enough to be profitable, they would have to allow the non-profitable gamblers to make a claim for tax back with their loses, or carry over those losses until they made a profit or whatever.

The whole area would be a huge waste of time for the Revenue, there would be a couple of percent of gamblers [5%, less?] making a tax return and paying money, the rest would be seeking tax back.

I dont think that they would need to allow tax back on losses here .
In america I dont think they are allowed tax back on losses they are only taxed on winnings which is stopped at the payments desk but i might be wrong on them getting tax back

so i think the tax people would or could start something like that if they wanted but how they would apply it is another matter .

[Arazi]

i dont think that would need to allow tax back on loses .
i dont think they are allowed tax back in america thay are only taxed on winnings which are stopped at payments desk but i might be wrong on them getting tax back

so i think the tax people would or could start something like that if they wanted but how they would apply it is another matter .

going back to when i first punted oncourse all winnings were taxed at 5%, ie if i had £100 on a 5/2 winner i would be required to pay 5% of 250=12.50 as tax so the oncourse bookmaker only returned me 337.50.
At the same time offcourse betting tax was 10% to be paid at source, later reduced to 5%. That tax is currently i think 1% which is swallowed by most if not all bookmakers.

Therefore for Live poker there are 2 ways we could be taxed, if live poker was actually legal in Ireland - is it?
Online i guess would be a little more tricky but still possible, again using both these methods.

For cash games id imagine they could tax the rake.

[TheDrunkenOne]

going back to when i first punted oncourse all winnings were taxed at 5%, ie if i had £100 on a 5/2 winner i would be required to pay 5% of 250=12.50 as tax so the oncourse bookmaker only returned me 337.50.
At the same time offcourse betting tax was 10% to be paid at source, later reduced to 5%. That tax is currently i think 1% which is swallowed by most if not all bookmakers.

.

IIRC you paid tax when making the bet marking slip tax paid and therefore winnings were tax free, if you didnt pay tax pre you paid outta winnings.

[Mister Perfection]

This has to be the biggest load of shite i've read in a good while...

[BallyCottonBliss]

After all this time this thread gets a revisit.

Why did Eoghan O'Dea have to pay tax here?:

http://www.pokergurublog.com/content/half-ben-lambs-wsop-prize-paid-taxes

[Denny Crane]

He doesn't, the writer just doesn't understand Irish tax law.

[dobby]

After all this time this thread gets a revisit.

Why did Eoghan O'Dea have to pay tax here?:


http://www.pokergurublog.com/content...ize-paid-taxes

It explains why he had to in the article you linked!!

Professional players pay tax (amateurs don't) of 20% on the first €36,400. Any winnings above that pay 41% tax. I was just gonna copy and paste it but seeing how you didn't understand first time I didn't bother!!

[Dice75]

It explains why he had to in the article you linked!!

Professional players pay tax (amateurs don't) of 20% on the first €36,400. Any winnings above that pay 41% tax. I was just gonna copy and paste it but seeing how you didn't understand first time I didn't bother!!

Nobody pays tax on poker winnings in Ireland.

If they did I can guarantee you nobody would class themselves as a Professional, why would they?

[BallyCottonBliss]

dobman, I read the article and I've also read the thread on here and not once did anyone mention professional poker players in Ireland paying tax on winnings.

Dice, is the article wrong then?

[BallyCottonBliss]

He doesn't, the writer just doesn't understand Irish tax law.

Thank you, Denny.

[dobby]

Nobody pays tax on poker winnings in Ireland.

If they did I can guarantee you nobody would class themselves as a Professional, why would they?

I've never won enough to worry about taxing it tbh. I just went with what was in the article.

Surely there are some players in Ireland declaring some of their winnings. Even just a bit to show some form of income in case their circumstances changed in future?

I'm not arguing with you or anything, it's a genuine question.

[BallyCottonBliss]

[x] dobman backtracking and feeling foolish

[dobby]

[x] dobman backtracking and feeling foolish

Not doing either of those things. I just went with what was in the article originally. Now that a couple of respected members have said the article is wrong, therefore I am wrong, I was asking would any players declare anything because they would know more on the subject than me. Don't see anything wrong with that tbh.

[BallyCottonBliss]

"I was just gonna copy and paste it but seeing how you didn't understand first time I didn't bother!!"




Apologise for your smart comment and we'll move on.

[BallyCottonBliss]

As for declaring any poker winnings this has already been addressed. Set yourself up as self employed or indeed, I know of a couple of fellas in the UK who have themselves as executives of their own ltd companies. File minimal returns and stay in the system. You don't even need to pay an accountant.