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On the plus side, any losses could be offset against tax due. I suggested that I might raise the question with the said body. To which, he pursed his lips, leant back in his chair, and said,thoughtfully, You could, but you might be opening a can of worms We parted company with those words ringing in my ears. I have NEVER EVER heard of anyone who has ever been taxed in the UK on gambling (Since they scrapped the Tax paid on in bookies Shops).