FOR MOLINA

[Felonius_Monk]

[Molina]

I do keep records of a sort, as simple as they are. I do 95% of my playing on one crypto account, so records wise I print out the monthly statement thingy in cashier at the middle and end of each month

(this is for the very boring reason that as every session is counted as a transaction that if you play a few session everyday then by the end of the month it may omit sessions from the biginning of the month)

Apart from this I keep all the e-mails of withdrawal confirmations and the bank statements of thhe bank account it pays into (actually thats my only bank account, besides one with £3 in that hasn't been touched in 4 years)

Besides this I have about £150 in Party and £60 in Pacific which is certainly not my capital: pacific is there for when I'm elsewhere, Party is for $25 PLO.

Beside these measures I'm not very bothered, at the moment my income is coming from poker which I can't be taxed on. As my bankroll is on crypto depositing isn't something I need to keep track of.

This article might be of interest to you, few years old but I don't think much will have changed

Hope this is of help,

Molina

[Felonius_Monk]

yep thanks, seems your plans are not dissimilar to mine. I have seen that article before, hope it stays that way! I was just a little worried that it's years end soon and I havent heard from the tax people about all this money that keeps appearing in my account

[Molina]

I think you're safe. The fact that you have a day job that gets taxed should mean they're not that bothered, the fact you have some records should be enough, its not as though massive wedges of cocaine soiled cash is paid in in irregular amounts.

I think it's only people who have poker as their only source of income who need worry, purely because in the eyes of the state they are supporting themselves without declared means income and thus any income tax (and issue 2: it must be illegal whatever they're doing).

I've gotten a few letter from the inland revenue saying that my NI contributions for this years are under the required level, something which I intend to sort out at some point.

I do wonder though what with all the relaxing of UK gambling laws and the 'cynics' who say its an additional income stream for when smoking is banned in public places. If this were the actual government plan, does this mean that winnings will become taxable once again?

Fingers crossed

Molina