Mark McLaughlin warns that explaining bank receipts as gambling winnings might prove difficult when it comes to convincing HM Revenue and Customs.
Many people enjoy a ‘flutter’ on the outcome of sporting events. Most people have the occasional win, but lose money in the long run.
Is it a business?
However, a small number of regular gamblers make money over time (i.e., winnings exceed losses overall). This sometimes attracts the attention of HM Revenue and Customs (HMRC). So, the question arises: can gambling amount to
