Wednesday, 8 December 2010

As I mentioned ealier, the UK is a pretty good place to play poker from as you don't need to pay any tax. The Inland Revenue class you as "non-employed" which is a status no-one else has ever heard of. I think there will be some need to keep up with national insurance contributions but the research I did when I started suggested it wouldn't be for at least 2 years, and they certinaly haven't come after me for anything yet.

The only other thing to note is that banks (and probably any other finance company) won't recognise your poker income at all so don't expect to be able to get a loan/mortgage/remortgage no matter how pretty your graphs are. Even if you don't think you'll need it, circumstances can change, so it is worth thinking about what you would do.

If you are planning to play 9-5 then you need to be aware that these won't be the best hours for poker. Personally, I keep a pretty odd schedule and like to stay up late so it isn't a problem.