The United Kingdom is known to be one of the safest gambling coutries thanks to their gambling regulation and some of the world’s best casinos, no matter if you choose to play online or offline. However, there's always this buzzing question: “Do you pay tax on gambling winnings in the UK?” Players from coutries like the United States or France, might be shocked by the answer. SO, DO YOU PAY TAX ON GAMBLING WINNINGS IN THE UK? No. Although, some twenty years ago gambling tax did exist in the UK. Gordon Brown removed betting duties before the Gambling Act 2005 was even signed into law. No matter how big the win, you won’t have to pay a single pound in gambling tax.
However, there are taxes for gambling operators. The casinos that you play at will have to pay a 15% tax on their revenues. If you’re from the UK and play online, possibly placing bets offshore, you may be wondering how taxation works. The good news is that the UK Gambling Commission will not levy any taxes against you. A lot of online casinos decided to move their operations out of the UK to avoid the 15% taxes that they faced. When these businesses moved jurisdictions, they were avoiding some taxes at first. The Gambling Commission decided to require all online casinos offering gambling options to British customers to:
The UK uses a Point of Consumption tax to ensure that casinos pay their taxes. This change took effect in 2014 due to offshore companies avoiding taxes. Players don’t have to worry about these taxes, but the UK collects billions of pounds annually in tax revenue from casinos. Unless you plan on opening and operating your own casino, you’ll have no tax concerns as a gambler in the UK. More info
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April 2021
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