My Co investing in Poker....

[Boney M]

How did he do?

Edit : Actually all his winnings are here and he's won $631k over a 10 year period.

Jeraint Hazan: Hendon Mob Poker Database

That's just his live winnings NLUK and does not include his online winnings.

[ASB]

If the gambling is a trade then it would be taxable. At an individual level case law is on the gamblers side.

I think financing somebody to gamble could very easily turn out to he a trade.

[DonkeyRhubarb]

If you want to gamble with your contracting income, you could always join a tax avoidance scheme.

[ASB]

If you want to gamble with your contracting income, you could always join a tax avoidance scheme.

Thing is a gamble at lrast has the chance of a profitable outcome.

[diseasex]

I'll answer this : as long as you make profits keep proper books, and pay taxes on that profits (from poker, grey area, WHATEVER) then HMRC will be more than happy with this scheme. They don't limit you on how your company makes money. If it's significant, then probably changing SIC code will be a good idea.

[Old Greg]

Have you asked your turf accountant?