do you actually declare your crypto casino winnings on your tax return??

i've never declared nothing in my life and nothings ever happened, your all overthinking this. i could of had a few decent wins over the years and not one letter ever turned up. there's way to many people doing this for them to ever bother chasing your winings tbh
 
"nothing's happened yet" and "it's legal" are not the same thing, and which country you're in completely changes whether you're actually fine or quietly building a problem. In US what you just described is unreported taxable income. In the UK you're probably genuinely fine on the gambling itself. "I never declared and I'm fine" is location-dependent luck, not a rule anyone should copy off a stranger
 
for my side nobody dey declare gambling money o, who go even ask sef? but na the bank wahala be the real problem, if big money enter your account dem fit freeze am and start to ask question. the tax man no dey chase us but the bank fit. so e depend on who dey watch your account, no be one answer for everybody
 
The through-line of this entire forum is you lot inventing elaborate new problems for yourselves and then heroically solving them. Disposal events. Chain analysis. Source of funds. Wrong networks. Capital gains on your winnings.
I have a biro and a paper coupon and a complete absence of every single one of these problems. Think on
 
and a withdrawal speed of "walk to the shop in the rain" and a privacy level of "the entire estate knows your business by teatime". swings and roundabouts grandad 😂
 
right, think ive actually got it now. uk gambling winnings not taxed, the crypto conversion is the bit to actually check on, keep proper records from here on, and book a quick chat with an accountant rather than trust a forum full of degens (no offence). feeling a lot less paranoid, taa everyone. and bitvadol love, your £12 is safe i promise 😅
 
Angela said:
right, think ive actually got it now. uk gambling winnings not taxed, the crypto conversion is the bit to actually check on, keep proper records from here on, and book a quick chat with an accountant rather than trust a forum full of degens (no offence). feeling a lot less paranoid, taa everyone. and bitvadol love, your £12 is safe i promise 😅
Click to expand...
phew. crisis averted, hmrc can keep their letter. wont be ringing them about my tenner after all 😅 cheers @Angela
 
ok got it uk gambling winnings aren't taxable and you don't have to declare them pretty simple... anyway crypto side might be a different story but the actual gambling win is fine to keep quiet about
 
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