Gambling income and student loans
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?