Stock investments and gambling

IC_Accounts
IC_Accounts FMAAT, AAT Licensed Accountant Posts: 3 New contributor ?
Would anyone tell me how to account for Stocks investments and money receive from gambling?
I have a client who is self-employed and he invested some money in various stocks and companies. He also receive some back but apparently he will get the most during 2019/2020 year. How shall I treat these for tax purposes? Both the money invested and the money returned.
Thank you very much.

Regards,
Carmen

Comments

  • Neillaw
    Neillaw MAAT, AAT Licensed Accountant Posts: 307 Dedicated contributor ? ? ?
    The money from gambling should be treated as tax free as this comes under the gambling act and the tax is paid by the betting company.
    Share dealings should be added to his self-assessment but only the profit element together with any dividends received.
    IC_Accounts
  • IC_Accounts
    IC_Accounts FMAAT, AAT Licensed Accountant Posts: 3 New contributor ?
    Thank you very much indeed.
  • anneblack33
    anneblack33 Registered Posts: 1
    Now the most effective investment in gambling is the opening of your own gambling platform. The company can help you with this question is NuxGame.
    NuxGame is a B2B software provider that offers solutions for sports betting and online gaming business using lightning fast technologies.
    Just go to the website https://nuxgame.com and contact the support.
  • BrNorton007
    BrNorton007 Registered Posts: 13
    Thanks a lot for the explanation.
  • Jan_Pawl
    Jan_Pawl Registered Posts: 3

    Now the most effective investment in gambling is the opening of your own gambling platform. The company can help you with this question is NuxGame.
    NuxGame is a B2B software provider that offers solutions for sports betting and online gaming business using lightning fast technologies.
    Just go to the website https://nuxgame.com and contact the support.

    So, the company helps you with opening your own platform? Does it also handles the taxes and possible legal issues?
  • BrNorton007
    BrNorton007 Registered Posts: 13
    edited March 2022
    Thanks for the information.
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