General discussion : BOOKIE BASHING

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LeTiss
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Thu May 17, 2018 11:25 am

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

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Euler
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Thu May 17, 2018 11:25 am

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.

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LeTiss
Posts: 4206
Joined: Fri May 08, 2009 6:04 pm

Thu May 17, 2018 11:31 am

Euler wrote:
Thu May 17, 2018 11:25 am
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?

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BetScalper
Posts: 775
Joined: Sun Jul 02, 2017 10:47 pm

Thu May 17, 2018 11:52 am

LeTiss wrote:
Thu May 17, 2018 11:31 am
Euler wrote:
Thu May 17, 2018 11:25 am
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 ?

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PDC
Posts: 183
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Thu May 17, 2018 12:01 pm

LeTiss wrote:
Thu May 17, 2018 11:25 am
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.

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BetScalper
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Joined: Sun Jul 02, 2017 10:47 pm

Thu May 17, 2018 12:27 pm

PDC wrote:
Thu May 17, 2018 12:01 pm
LeTiss wrote:
Thu May 17, 2018 11:25 am
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.

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PDC
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Thu May 17, 2018 12:31 pm

What was the reason given for the marker?

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Euler
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Thu May 17, 2018 12:33 pm

LeTiss wrote:
Thu May 17, 2018 11:31 am
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.

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BetScalper
Posts: 775
Joined: Sun Jul 02, 2017 10:47 pm

Thu May 17, 2018 12:47 pm

PDC wrote:
Thu May 17, 2018 12:31 pm
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.

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PDC
Posts: 183
Joined: Sun Jul 24, 2016 5:52 pm

Thu May 17, 2018 2:15 pm

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.

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