Richard,

On Tue, 30 Jan 2007 11:31:55 +1300, Richard Prosser wrote:

> There is a difference between NZ & the UK
> as far as betting is concerned however. I think in the UK you can pay
> extra to "insure" youself against having to py tax on any winnings.
> Not totally sure on this though.

You're talking about betting tax, which was introduced in the 1980s if I remember rightly, and only applies to gambling, not competitions or lotteries 
(the former doesn't have tax, the latter as I mentioned is taken out of the stake, not the winnings).  

With betting the Government want a percentage of the total amount bet.  The Industry decided to offer the punter the choice of "paying the tax" 
when they make the bet - basically you're gambling an extra amount to cover the tax, otherwise it's deducted from the winnings, but either way you 
pay it!

Cheers,


Howard Winter
St.Albans, England


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