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Gambling income and student loans

Gambling income and student loans

Hi 

A potential client has approached me with two questions:

1. Is gambling income taxable? I have said it is not based on http://www.hmrc.gov.uk/manuals/bimmanual/BIM22017.htm

2. Will his gambling income trigger a student loan repayment? Since he left college he has only gambled as a way of earning money (so much for the house always wins but its early days yet) and the student loans council want to see his bank statements to determine how he is earning a living if, as he says, he doesn't have a job.

What is the position re gambling proceeds and student loan repayments?

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30th Jan 2013 13:53

For those of you who are interested....

the Student Loans Council have come back to me and said that gambling income only forms part of the student loan repayment calculation if that income also falls into taxable income.

Therefore if the gambling income is not taxable then it will not be included in the student loan repayment.

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