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Tax on Forex profits

Last post 10 Mar 2006, 3:56 AM by Smotty. 2 replies.
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  •  09 Mar 2006, 11:17 AM 111600

    Tax on Forex profits

    Can any one tell me how the inland revenue tax profits on Forex or Futures trading? Is it taxed as income?

    If you trading account is abroad does this affect the tax situation?

    I have checked on various websites. there is alot of information if you are an american resident but nothing for the uk, any help or advice would be appreciated

     

     

     

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  •  09 Mar 2006, 1:11 PM 111611 in reply to 111600

    Re: Tax on Forex profits

    UK spread betting profits on FX are tax-free.
  •  10 Mar 2006, 3:56 AM 111658 in reply to 111611

    Re: Tax on Forex profits

    thanks for the info doddsy but what about if you trade the spot price and don't use spread betting or cfd (cash for difference)?
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