Recent content by MikehuntIII

Hi and thanks for the reply, I was joking yes... its about as clear as mud. I am a newb at this game and only just starting to make profit so maybe I'm jumping the gun in thinking about all this, but thought to come here to ask experienced traders advice :) What you are saying makes more sense...

Great, all clear now... many thanks to all for sharing your knowledge, much appreciated! Happy trading :)

I find that astounding... but I must be being naive! I'd of thought that HMRC would be interested only in what goes through your actual account.. you can't use money from your broker unless you withdraw it, and while its in there it is volatile funds...

From another forum: "I've had this out with HMRC last year. FX income used to be a grey area several years ago, but no longer. FX trading is NOT classed as gambling (although spread-betting is), nor is it classed as capital gains. They treat it as normal income, which you will need to...

Sorry to be a dog with a bone here but still reading up on this and not getting any clearer... I understand the points made and the HMRC guides, as far as if you trade forex full time with no other form of employment you have to class yourself as self employed and declare your income etc...

Hi, ta for the reply forker - I like your avatar :D Apart from 'account classification' then I guess there's no difference... The law is an ass.. I shall look into getting a SB account too. Thank you & Happy trading

Hello :) This is an interesting read and I understand the points made, but I am still confused as to the difference between 'spread betting' and plain ol' 'trading forex', sounds like they are the same thing but there's legal, and therefore tax, distinction between the two? I have a 'plain ol'...