Getting tax on poker winnings - UK resident

Hi,

I am thinking about entering some poker tournaments at Venetian. If I did manage to win some money :) would I be subject to withholding?

The same question for slots and everything else.

Thanks

Getting tax on poker winnings - UK resident

I%26#39;m no expert, but here%26#39;s what I remember:

Table winnings: Not taxed with one or two exceptions. If you make a side-bet that has a high payoff like the dollar side-bet for a Royal Flush on Carribbean Stud and you win, you%26#39;ll be filling out the paperwork.

Slots or Video Poker: Jackpots of $1200 or larger are subject to tax. That%26#39;s why a lot of the jackpots you see are $1199. I have heard tales that if you play a 3 coin $1000 machine in the High Roller Slots and just get your money back (ie: $3k in and $3k out) you subject to a w-2 because the machine paid you more than $1200. Maybe true, maybe not...

Getting tax on poker winnings - UK resident

As a UK resident you are NOT subject to witholding tax on your winnings from a poker tournament or slot machine.

You will have to fill out some forms...but you need to ask for a W8-BEN and get the casino to get you a TIN thingy...they are the forms you need to fill out. You will need proof of ID..ie your passport and drivers licence. They will also ask for your tax reference number,(NI#).

I won $1287 or something like that when I won a $60 buy in tournament at Paris Hotel last year...filled out the forms...and walked away with the lot...minus tips of course.

People will tell you that you have to pax tax on winnings....but if you live in the UK you DON%26#39;T. The USA has tax treaties with several countries and the UK is one of them.

Some casino staff aren%26#39;t aware of the rule either...if they are in doubt, get them to call over a boss.

If you look on the IRS website...it%26#39;s all there in black and white...print it out and take it with you.

shirl%26#39; T -11

One more reason to move to the UK. Now, if I could just get over the room temperature beer....

This is great news :)

Thanks for your responses