Corporation Tax – betting losses

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Hi, I have a client in the sports travel industry that stands to make considerable extra profits in 2018 should Man United beat Ajax in this weeks Europa Cup Final. As a hedge the directors want to place a bet on Ajax. Can you outline whether the cost of the bet is tax deductible if a losing bet and the tax treatment of the winnings if successful? Thanks Rob!

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Asked on 22 May 2017 3:19 pm
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