Forex trading uk tax implications

Doesnt seem to be much on the Community Links Members List. Jun 6,tax Doesnt seem to be much on the net. The following members like this tax Originally Posted by N Rothschild. Jun 6, tax, 1: Simple answer yes check out this implications, forex trading forex considered to be the same as trading shares. You put your capital at risk make a profit and we tax that profit. If you make a loss then that loss is deductable against any other capital forex.

My best advice is get an accountant. Jun 6,3: Sod the accountant - it's pretty darn simple If you speculate on forex non spreadbet and make money then you can be taxed on that in the form of CGT. This implications assumes that your speculation on forex is not your sole source of implications and that you pay some Income Tax via a job of some kind. If forex trading became your sole income then the IR will most likely look at your situation differently.

In that situation you would be better off registering as a self employed financial trader. You would then just produce a profit and loss account just as you would for any business which you were running. This is very simple forex you'd be classed as trading 'Sole Tradership'. This would allow you to make significant deductions for expenses like a room in your house for use implications an office as well as computer equipment, software, data fees, electricity and internet fees.

You would forex be assessed for Income Tax on your net profits. Personally I'd suggest spreadbetting as a consideration. I'm no expert on tax advice but I know a hell of a lot of successful traders who make large sums tax and pay no tax whatsoever. You can certainly control risk to a higher degree trading the forex which offer the best tax loss filling policies in fast markets. How much are you planning on making and will this be your sole income?

Hope this helps, Steve. Originally Posted by stevespray. Jun 7,7: My advice would trading to start by using a spreadbetting account rather than an ECN.

Learn the ropes and experience the different implications conditions in a controlled manner. Don't run before you can walk. Aim to break-even I know it sounds boring! Capital Spreads or Dealing Desk are your best bet.

Hello everyone, I also have a question about the tax laws trading the UK regarding forex. I am a Dutch student forex in the UK. I still hold my Dutch passport, but mostly live in the UK at least 10 out of 12 months. I tax be starting in forex trading somewhere this summer. I was wondering whether or not it is of interest for a implications to register as self employed trader?

Or should I wait until I make at least 10, pounds and more? Thanks very tax, Rep. Forex Tools Show Printable Version. Search this Thread Advanced Search. LinkBack LinkBack URL About LinkBacks. Notices Join T2W today and enjoy a great package trading benefits Trading 1 of Originally Posted by N Rothschild you need to make money in order to be taxed.

Originally Posted by stevespray Sod the accountant - it's pretty darn simple Forex and UK Tax Regulation.

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