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bturner

Chipmonkz Slots - All above board?

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Ok, for those who haven't seen it, Chipmonkz slots posted a video 

There is no doubt he uses real money but has said he is open and honest and will answer questions so here are my thoughts.

[[[[[[[[[[

Chip,

You are running your stream as a business (according to the aff manager I spoke to today) under Chipmonkz Media Ltd - so do you use business bank accounts to fund your 'real money transactions'?

Do you pay 19% corporation tax on your winnings (which you should do by law as the stream accounts for your income from affiliate earnings)

Was the recent €5000 you received from Big Time Gaming paid into your business or personal account - did the winnings to the players also get paid from a business account.

[[[[[[[[[

If Chip is genuine and puts everything through his company, you will be able to see how much money he makes on the Companies House web site:

 

BTW this isn't a troll post, I'm just surprised Chip is running this as a limited company as he has the burden of 19% corp tax and other tax.

 

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Whatever you think of people putting there personal details up is not good .

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2 minutes ago, Miller26 said:

Whatever you think of people putting there personal details up is not good .

Its public information, you can do it for any company in the united kingdom. Nothing to hide, nothing to fear 😩

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Guest Jake.

You do know winnings aren't taxable? 

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Guest Jake.

There's nothing wrong with what is posted everything is available to those who look! 

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Just now, Jake. said:

There's nothing wrong with what is posted everything is available to those who look! 

So you would like all your info jake? Think not 

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3 minutes ago, bturner said:

Its public information, you can do it for any company in the united kingdom. Nothing to hide, nothing to fear 😩

I personally don’t watch him nor do I care . What I do care about is people’s information being banded about on a public forum. I’ll say no

more

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36 minutes ago, bturner said:

Ok, for those who haven't seen it, Chipmonkz slots posted a video tonight: https://www.youtube.com/watch?v=tFQshle4nzM

There is no doubt he uses real money but has said he is open and honest and will answer questions so here are my thoughts.

[[[[[[[[[[

Chip,

You are running your stream as a business (according to the aff manager I spoke to today) under Chipmonkz Media Ltd - so do you use business bank accounts to fund your 'real money transactions'?

Do you pay 19% corporation tax on your winnings (which you should do by law as the stream accounts for your income from affiliate earnings)

Was the recent €5000 you received from Big Time Gaming paid into your business or personal account - did the winnings to the players also get paid from a business account.

[[[[[[[[[

If Chip is genuine and puts everything through his company, you will be able to see how much money he makes on the Companies House web site:

 

 

BTW this isn't a troll post, I'm just surprised Chip is running this as a limited company as he has the burden of 19% corp tax and other tax.

 

 

You are surprised as you likely don't understand anything about it. Would you like me to educate you?

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3 minutes ago, Jake. said:

You do know winnings aren't taxable? 

So Chip never has to pay tax for all the money he makes as a company? Don't think HMRC see it that way lol

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1 minute ago, bturner said:

So Chip never has to pay tax for all the money he makes as a company? Don't think HMRC see it that way lol

No he’s not saying that . What he is saying that winning can’t be taxed as well as losses can’t be tax deductible 

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Guest Jake.
3 minutes ago, Miller26 said:

So you would like all your info jake? Think not 

How I look at it is how its put across and the context of the post. For me the OP is only showing what's available for everyone to see and being factual for his comments. If there was anything abusing or threatening then I'd remove it mate. 

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Just now, Jake. said:

How I look at it is how its put across and the context of the post. For me the OP is only showing what's available for everyone to see and being factual for his comments. If there was anything abusing or threatening then I'd remove it mate. 

Ok that’s fair enough jake I’ll say no more . 

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1 minute ago, Jake. said:

How I look at it is how its put across and the context of the post. For me the OP is only showing what's available for everyone to see and being factual for his comments. If there was anything abusing or threatening then I'd remove it mate. 

Chip said he would answer any questions, so as I can't type a long post on YouTube I asked here.

Would never post anything that isn't publicly available.

Someone correct me, but are their any other streamers that run their stream as a proper business? I just find it odd Chip is doing it this way, taking on staff and paying additional expenses. Business bank accounts are not cheap to run!

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I removed the link, even though it is available to the public etc I'm still not sure about linking that could possibly have someones home address or other personal info

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1 minute ago, bturner said:

Chip said he would answer any questions, so as I can't type a long post on YouTube I asked here.

Would never post anything that isn't publicly available.

Someone correct me, but are their any other streamers that run their stream as a proper business? I just find it odd Chip is doing it this way, taking on staff and paying additional expenses. Business bank accounts are not cheap to run!

If you earn a certain amount it’s highly advisable that you run it as a business. Most will do this but also most of us do not care . Don’t take my posts the wrong way mate as I’m not trying to be nasty to you it’s just I’m tired of hearing it .

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1 minute ago, Rocknrolla said:

I removed the link, even though it is available to the public etc I'm still not sure about linking that could possibly have someones home address or other personal info

 

It likely did have his home address. His accountant isn't as good as yours.

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2 minutes ago, bturner said:

Chip said he would answer any questions, so as I can't type a long post on YouTube I asked here.

Would never post anything that isn't publicly available.

Someone correct me, but are their any other streamers that run their stream as a proper business? I just find it odd Chip is doing it this way, taking on staff and paying additional expenses. Business bank accounts are not cheap to run!

Let me explain how it works as you seem confused but also full of "information" about me.

Affiliate earnings are taxed hence why i have an LTD just like every streamer.

You can not use deposits as tax relief no matter how you do it.

As for earnings i get taxed just like everyone else who does this.

Let me know via pm if you have any further questions.

 

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2 minutes ago, Rocknrolla said:

I removed the link, even though it is available to the public etc I'm still not sure about linking that could possibly have someones home address or other personal info

It's still in Denmans quote of the original post!

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Guest Jake.
4 minutes ago, bturner said:

Chip said he would answer any questions, so as I can't type a long post on YouTube I asked here.

Would never post anything that isn't publicly available.

Someone correct me, but are their any other streamers that run their stream as a proper business? I just find it odd Chip is doing it this way, taking on staff and paying additional expenses. Business bank accounts are not cheap to run!

You will struggle to find a channel that isn't a business now. There is obviously serious money to be made or there wouldnt be so many doing it full time. My advice to you is do abit of research and digging and you will see how it's possible. 

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Guest Jake.
2 minutes ago, Denman said:

 

It likely did have his home address. His accountant isn't as good as yours.

I had a look and the only address on there is a business center. I wouldn't of allowed it if I had noticed there was a personal address on there 

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Dangerous game to start firing peoples info about on the forum, its starting to feel like a witch hunt. 

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3 minutes ago, bturner said:

Chip said he would answer any questions, so as I can't type a long post on YouTube I asked here.

Would never post anything that isn't publicly available.

Someone correct me, but are their any other streamers that run their stream as a proper business? I just find it odd Chip is doing it this way, taking on staff and paying additional expenses. Business bank accounts are not cheap to run!

My understanding is Chip had an investor when he first started streaming, therefore the loan was probably done as a business loan - and guess what - to do this you need to have a business. Nothing shady going on here mate, it's a waste of a thread. He'll pay his taxes but they will be on affiliate earnings, not gambling winnings. A Jake rightly pointed out you don't pay tax on gambling winnings in the U.K.

if there is more than one person involved in Chip's venture then it makes sense to create a business, and as he will certainly turnover the minimum amount eligible to become limited they have chosen to do so, as I'd imagine the likes of Fruity and other duos would do.

Sounds like you either don't know what you're talking about, or you're muck-raking for no reason.

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1 minute ago, Chair Slots said:

Sounds like you either don't know what you're talking about, or you're muck-raking for no reason. 

I don't know thats why I asked him 😊

A very brave man that's all I can say. Reading this forum for a while now and if streaming got banned for some reason there would be a lot of people down the job centre!

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Just now, bturner said:

I don't know thats why I asked him 😊

A very brave man that's all I can say. Reading this forum for a while now and if streaming got banned for some reason there would be a lot of people down the job centre!

Well yeah, but that could be said for any industry couldn't it.

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