Recent content by rj100

Makes no diff. still totally tax free (remember I am only quoting this for UK tax purposes)

100% incorrect, sorry. Proffessional or not, it is classed as winnings. The point being that if winnings are taxed then losses may be duducted. The spread betting companies all pay a percentage of profit as betting duty (which of course comes out of the spread profit - so indirectly tax is paid).

Proof - check IGindex home page (the largest UK spreadbetting co), or in fact any other one. You will note all disclaim the fact that the law can change (of course it can, as can any).

Facts about UK tax and spread betting Totally incorrect for UK. Even if spread betting is your only income and you make good progress it is not taxed and in my opinion will never be. Here is why; If HMRC decided to tax spread bet profits/winnings they would have to allow losses as a...