BOOKIE BASHING

[LeTiss]

That would bugger most traders, as many have poorish credit files, due to paying no income tax!

[Euler]

People have mainly missed the following paragraph in that release by the government

In order to cover any negative impact on the public finances, and to protect funding for vital public services, this change will be linked to an increase in Remote Gaming Duty, paid by online gaming operators, at the relevant Budget.

[LeTiss]

People have mainly missed the following paragraph in that release by the government

In order to cover any negative impact on the public finances, and to protect funding for vital public services, this change will be linked to an increase in Remote Gaming Duty, paid by online gaming operators, at the relevant Budget.

Is the old 9/10% tax returning to bets then?
How would that impact upon exchanges?

[BetScalper]

People have mainly missed the following paragraph in that release by the government

In order to cover any negative impact on the public finances, and to protect funding for vital public services, this change will be linked to an increase in Remote Gaming Duty, paid by online gaming operators, at the relevant Budget.

Is the old 9/10% tax returning to bets then?
How would that impact upon exchanges?

I don't know but I imagine BF would have to increase the commission to say 10% with the additional 5% paid to the government or something ?

You can't really go after the companies that run on-line poker as aren't they registered in Guernsey/Channel Islands for tax purposes and therefore outside of normal rules etc ?

[PDC]

That would bugger most traders, as many have poorish credit files, due to paying no income tax!

Income tax paid or not paid has zero impact on your credit file as it is not taken account of at all, there is no reason why being a trader should mean you have a poor credit file.

Also your salary is not included nor how much savings you have.

[BetScalper]

That would bugger most traders, as many have poorish credit files, due to paying no income tax!

Income tax paid or not paid has zero impact on your credit file as it is not taken account of at all, there is no reason why being a trader should mean you have a poor credit file.

Also your salary is not included nor how much savings you have.

Maybe not but HMRC put a marker on my credit file a couple of years ago which caused me serious grief financially.

Its been removed now.

[PDC]

What was the reason given for the marker?

[Euler]

Is the old 9/10% tax returning to bets then?
How would that impact upon exchanges?

They currently levy 15% on profits, they will probably raise that I guess.

[BetScalper]

What was the reason given for the marker?

To cut a very long story short.

I was arrested overseas on suspicion of betting at certain sporting fixtures onsite.

After being re-arrested by UK police they past information onto HMRC which led them to open up a 5 year investigation into my income/expenditure/tax returns. Part of the process was them basically blocking me obtaining any type of credit, certain jobs etc. I even had to explain every cash withdrawal from my bank account. Cant remember what its called now but they put a marker on your credit file and basically everyone and their dog in the financial world knows what it means. Think its a fraud type marker.

It was a nightmare, wasn't allowed to withdraw more than £200 from my bank without approval and then had to say what it was for etc.

However, the Police charges both abroad and here were dropped and HMRC closed the case and removed the marker 2 years later.

[PDC]

Sounds a real nightmare! Though I would class that as a special case as the marker would have been put on due to the police arrest rather than having anything to do with you trading under normal circumstances.

Glad to hear it all got cleared up for you. You can put your own notice of correction on your file if there is an issue with it prior to the issue being resolved/removed. May have been something you should have done at the time as that has to be taken account of when applying for credit.

[BetScalper]

Sounds a real nightmare! Though I would class that as a special case as the marker would have been put on due to the police arrest rather than having anything to do with you trading under normal circumstances.

Glad to hear it all got cleared up for you. You can put your own notice of correction on your file if there is an issue with it prior to the issue being resolved/removed. May have been something you should have done at the time as that has to be taken account of when applying for credit.

My solicitor tried to get it removed and put a notice of correction on my file, however, Experian and the other big 2 refused until the Police/HMRC had finished their investigations.

It ended up being a pin ball bouncing back between Police, HMRC, Experian, My Solicitor for over 2 years. I even went to court to get my file fixed but my case was dismissed due to the nature of the alleged offences.

They all dragged their feet over it. And yes, I went for compensation too after everything was sorted out but lost that too.

Yes, a real NIGHTMARE.

[BetScalper]

Don't know how true it is.

But on the news they just said the government will introduce checks to on-line gambling for affordability and betting limits.

It didn't say but I presume they mean forcing the on-line companies to check peoples credit files.

That could potential mean fewer customers for the betting/gaming industry.

Nanny state ?

[wearthefoxhat]

Don't know how true it is.

But on the news they just said the government will introduce checks to on-line gambling for affordability and betting limits.

It didn't say but I presume they mean forcing the on-line companies to check peoples credit files.

That could potential mean fewer customers for the betting/gaming industry.

Nanny state ?

It's given the govt a chance to do an overall view on gambling, specifically the problems gambling can cause. As per usual, the tendency is to go slightly overboard and assume controls more than needed. However, gaming online ie: Casinos, should be looked at for sure, I bet some of the algo's the sites use are super shady.

[Derek27]

I bet some of the algo's the sites use are super shady.

I can't see how a casino could get away with that as the numbers and transactions are independently audited. If the casino was winning significantly more than the laws of probability suggests it would set alarm bells ringing and it's a guaranteed success for the casino anyway so there's no point in taking any risk.

[LeTiss]

I don't see how the government or betting companies could do credit file checks on punters.

I suspect many problem gamblers would have a clean file, and I suspect many who missed a credit card repayment 12 months ago, are responsible gamblers.

That's a minefield that wouldn't solve any issues at all