With gambling winnings tax free and the national lottery promoting syndicates on their official site; https://www.lottery.ie/useful-info/syndicates, I assume there is no law against a betting syndicate.
As syndicates do not have to be split equally, is there anything illegal or that may leave a tax liability in having a treasurer use their current account and gambling accounts to place bets, despite the treasurer having a very low share of the total bets?
It would result in large transfers to / from the current account of other syndicate members and large deposits and withdrawals from the betting sites.
As syndicates do not have to be split equally, is there anything illegal or that may leave a tax liability in having a treasurer use their current account and gambling accounts to place bets, despite the treasurer having a very low share of the total bets?
It would result in large transfers to / from the current account of other syndicate members and large deposits and withdrawals from the betting sites.
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