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Legal requirements on winnings as income?

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Azimov | 19:28 Sun 21st Jun 2009 | Business & Finance
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Can anybody tell me what I have to pay on gambling winnings?
ie. Income tax, VAT, NI contributions etc

If for sake of argument I wanted to become a professional gambler with winnings as my only income, what do I need to know?

Thanks
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Don't worry in the long run you would be lsoing money so tax won't be an issue.

This has been covered on AB before, although I'm not sure there was consensus.
http://www.theanswerbank.co.uk/Business-and-Fi nance/Question755579.html
20:14 Sun 21st Jun 2009

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