I know there's a lot of discussion going on about tax in the bankroll management forum but that's for tax in the USA. I also know that in the UK you don't have to pay tax on any poker winnings. I also heard that Joe Haschem didn't have to pay tax on his winnings because he reported that he had a fulltime job apart from poker and poker was a hobby of his. My situation is as follows:

I plan to go to University this year as a full-time student and play poker in my other time as my primary (and only) source of income. Do I have to pay tax on my winnings? And if so, is there some way to avoid paying tax by say perhaps getting a part-time job and reporting that as my primary source of income with poker being more of a secondary source of income or even a hobby (which it would be if i had another job).

Thanks for anyone who can help or give any insight at all

You could just not declare it... does that not make more sense???

Listening to the Cardplayer audio interview with Hachem at one of the recent tournaments he said that he wasn't taken to court more that he requested a legal decision one way or the other as to whether he would be taxed on it.

There the reasoning that if they didn't go after him after winning so much and having a somewhat dubious loan company that hardly did any business then why would they come after you? Expecially if you're a student it's quite feasible that you'd have no 'proper' when you caould say you're parents are supporting you or student loans.

Either way, Give the Inland Revenue a call and if favourable get the to send confirmation.

Molina

I have no idea why people get so up in arm about poker income. I really think it is a huge mistake or report it. I mean why? If u are going to have it all taxed anyway, you should figure that into ur pot odds...LOL