Hi
I have an client who is a poker player - makes over £200k a yr
He is trying to get a mortgage, but as it is gambling funds, unable to do so
I am wondering if anyone had an suggestions on what he could do to prove and income
I suggested a ltd company business, but he would have to pay tax on non-taxable income?
Any suggestions?
Replies (10)
Please login or register to join the discussion.
Always??
Some ‘professional gamblers’ do carry on a trade, for example, where they receive appearance money for appearing on television programmes. They are providing a service to a customer (the television production company) for reward. Whether their gambling winnings are proceeds of that trade would depend upon the facts.
BIM22017
I'd stick to the letting, clothing or sweets....
Down size
With £200k a year, tax free apparently, he doesn't need a mortgage.
He just needs to be more realistic and weigh the up side of earning £200k playing poker against the down side of not being able to get a mortgage.
Not much sympathy for him, I'm afraid.
.
As an aside, I wonder how many fraudsters / drug dealers etc claim to have won their money on the lottery/gambling etc.
Just a thought from a ML point of view...
Tell him to "re-invest" his
Tell him to "re-invest" his £200k at 5:1. He'll soon have enough money that the mortgage is irrelevant.