Are profits tax-free?

This is a discussion on Are profits tax-free? within the First Steps forums, part of the Reception category; Alright thanks a lot, I guess you speak the truth and from experience. When you say you made your first ...

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Old Apr 27, 2011, 10:45pm   #31
Joined Apr 2011
Re: Are profits tax-free?

Vint started this thread Alright thanks a lot, I guess you speak the truth and from experience.

When you say you made your first trade in uni, are you referring to spread betting? Or actually buying a stock/share?

Thanks again.
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Old Apr 27, 2011, 10:55pm   #32
 
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Re: Are profits tax-free?

I bought some stock. I had some money stashed away as I worked in a gap year.

Which area of trading were you interested in? Don't let me put you off though, you never know - you might turn your £10 into a million in the summer and i'll look like an idiot. But for the short term (as in from now till June) you'll be better off channeling your efforts towards your studies. A good trader won't give up, but they also have a backup plan too.
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Old Apr 29, 2011, 7:27pm   #33
Joined Apr 2011
Re: Are profits tax-free?

Vint started this thread Just an update, I couldn't be bothered with fixed odds due to ladbrokes saying betting not allowed every few minutes after winning a few..

so time consuming and little return, so I pissed it all away (<10 GBP)

I want to go into spread betting some time but being under 18 it really is annoying.. I'll have to find a way. If I put in 50gbp and bought some shares for <1 GBP per point I could do alright with a little research right? or possibly buy a small contract in gold or silver..?

Thanks
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Old Apr 29, 2011, 7:42pm   #34
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Joined Nov 2010
Re: Are profits tax-free?

Quote:
Originally Posted by Vint View Post
Just an update, I couldn't be bothered with fixed odds due to ladbrokes saying betting not allowed every few minutes after winning a few..

so time consuming and little return, so I pissed it all away (<10 GBP)
Try roulette, no restrictions after winnings.
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Old Apr 29, 2011, 7:44pm   #35
Joined Apr 2011
Re: Are profits tax-free?

Vint started this thread I'm not bothered with betting in the bookies anymore. Too boring, time consuming and little return. I'll ALWAYS end up losing.

Spread betting is where its at, I'm using a spreadbet demo account and have doubled my starting balance within a couple of days (100k to 200k) pretty much.

I think I could do something with 50 quid
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Old Apr 29, 2011, 7:48pm   #36
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Re: Are profits tax-free?

How are you going to open spreadbetting account if you are under 18?
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Old Apr 29, 2011, 7:49pm   #37
Joined Apr 2011
Re: Are profits tax-free?

Vint started this thread I'm probably going to try and register one in my brother's name who is 18+. Not sure about phone number/card though.. might be hard convincing my brother with those.
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Old Apr 29, 2011, 7:53pm   #38
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Re: Are profits tax-free?

Does your brother know and approve?
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Old Apr 29, 2011, 7:54pm   #39
Joined Apr 2011
Re: Are profits tax-free?

Vint started this thread I haven't asked yet. he lets me do anything in his name yes, but not sure about card/number. I'm wondering if I could use my card/number..
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