Taxing questions...........

Tubbs · Mar 4, 2011, 8:14am

Does anyone know of any good references to learn about Tax on futures trading.

My trading is intraday, using Interactive Brokers, but I am based in the UK.

Many thanks for any info.

scose-no-doubt · Mar 4, 2011, 8:18am

That's specialist stuff and is probably more about finding and interpreting the correct legislation rather than simply reading a book but if I had to point somewhere I'd say give Tolley a call.

greegsy247 · Mar 8, 2011, 5:06am

Hi Tubbs i am interested to know if youve made progress on your UK Futures trading tax as its the very reason why i have joined this site, kind regards Greg.

pit pony · Mar 8, 2011, 8:58am

Quote:

Originally Posted by Tubbs

Does anyone know of any good references to learn about Tax on futures trading.

My trading is intraday, using Interactive Brokers, but I am based in the UK.

Many thanks for any info.

Are you using IB as a spread bet or out right trading, spreadbetting is tax free trading in the UK at the moment.

greegsy247 · Mar 8, 2011, 11:19am

No; working with intraday gold & crude futures contract, we are operating on the premise that by dealing with a Uk Broker (likley to be Berkeley Futures Limited) it will simplify the matter of tax and the best way to go about structuring it from there i.e trust, individual etc

anley · Mar 8, 2011, 11:29am

Check the brokerage out re Berkeley and IB.

There isn't any reason these days to pay anymore money for brokerage if you're dealing online, assuming the online software is good.

A penny saved with trading really is a penny earned as it goes straight to the bottom line...........

greegsy247 · Mar 8, 2011, 5:29pm

Ok thanks for that :-)

Tubbs · Mar 9, 2011, 8:30am

Interactive Brokers doesn't offer spread betting to my knowledge.

And no - I haven't made any progress on this issue.

Is there anyone UK based that trades through Interactive Brokers here? And has more than £10,000 profits in a year so they actually have to pay tax.

Thanks,

Mar 4, 2011, 8:14am	#1
Tubbs Senior Member Member Since Jan 2003 267 Posts	Taxing questions........... Does anyone know of any good references to learn about Tax on futures trading. My trading is intraday, using Interactive Brokers, but I am based in the UK. Many thanks for any info.

Mar 4, 2011, 8:18am	#2
scose-no-doubt Legendary Member Member Since Apr 2010 4,551 Posts	Re: Taxing questions........... That's specialist stuff and is probably more about finding and interpreting the correct legislation rather than simply reading a book but if I had to point somewhere I'd say give Tolley a call. __________________ "What the **** is going on here?!" - Mickey B Looks like Scose be trollin' 'aaaaard tho... as far as some are concerned!

Mar 8, 2011, 5:06am	#3
greegsy247 New Member Member Since Feb 2011 3 Posts	Re: Taxing questions........... Hi Tubbs i am interested to know if youve made progress on your UK Futures trading tax as its the very reason why i have joined this site, kind regards Greg.

Mar 8, 2011, 11:19am	#5
greegsy247 New Member Member Since Feb 2011 3 Posts	Re: Taxing questions........... No; working with intraday gold & crude futures contract, we are operating on the premise that by dealing with a Uk Broker (likley to be Berkeley Futures Limited) it will simplify the matter of tax and the best way to go about structuring it from there i.e trust, individual etc

Mar 8, 2011, 11:29am	#6
anley Legendary Member Member Since Dec 2003 2,747 Posts	Re: Taxing questions........... Check the brokerage out re Berkeley and IB. There isn't any reason these days to pay anymore money for brokerage if you're dealing online, assuming the online software is good. A penny saved with trading really is a penny earned as it goes straight to the bottom line...........

Mar 8, 2011, 5:29pm	#7
greegsy247 New Member Member Since Feb 2011 3 Posts	Re: Taxing questions........... Ok thanks for that :-)

Mar 9, 2011, 8:30am	#8
Tubbs Senior Member Member Since Jan 2003 267 Posts	Re: Taxing questions........... Interactive Brokers doesn't offer spread betting to my knowledge. And no - I haven't made any progress on this issue. Is there anyone UK based that trades through Interactive Brokers here? And has more than £10,000 profits in a year so they actually have to pay tax. Thanks,

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