Recent content by Nik655

I'm profitable using CFDs, my main concern at the moment is if SB is a worthwhile way to go to avoid having to pay taxes on my profits. Will it be exactly the same as trading CFDs ( I use FXCM) or will there be subtle differences that will prevent me from doing the same thing i have been doing...

Thanks for the first informative reply i have seen on this topics. If you could go 1 step further: Is it worth switching over and full time trading SB instead of CFDs due to the tax benefits, or is it pointless to do and rather pay the 18% or 28% a year CGT on CFD trading?

It is easy to make money trading as long as you are market savvy and have a understanding of economics, foreign exchange, and financials. All you need is a good money management strategy. I make a decent amount of money trading and the ONLY time i have SIGNIFICANT losses is when i don't follow...

Again claims but no proof. No reputable sources or investment banks outlining the risks and sever downsides of SBing as opposed to CFDs or Futures, no news agencies talking about it. Nothing. Cant make an informed decision based on rumours.

Well of course not. but maybe this was just a bug in the system of the broker? Im finding it difficult to decide between CFD and paying taxes and risking switching over to SB. I have not seen any solid arguments, just claims here and there.

So is spread betting really not worth while when compared to trading CFDs? I mean the tax-free benefits seem very attractive and brokers like FXCM have the same spreads for CFDs and SBs so what is really the difference? Why does everyone continue to say that no money is made in SB???

I think that depends highly on which bank and in which country. It is perhaps possible to transfer to another bank that does not have any agreements with the UK to release any information about it's account holders and thus cannot be taken into account by the HMRC when calculating how much money...

Hmmm ok thats not TOO bad. Perhaps i will need to look into doing some sort of offshore company in a tax haven to see of its viable and if i can avoid paying up. 28% is not as bad as 50, but in my opinion paying anything more then 15% on money you make is ridiculous. Thanks for your help, i...

I'm still a bit confused about CGT and Income tax. Can you go into a bit more detail? If trading CFDs is my only source of income and lets say i made 50,000 in a year only from trading CFDs. I would be liable to pay CGT on this income above 10,100 (or w/e the CGT allowance is) at 18% and...

Thanks for the reply! So if i continue trading CFDs i would only pay the Capital Gains tax at 18 or 28% and would not have to pay any income tax. If i make 150,000+ i would still only pay Capital Gains at 28% and not the income tax at 50%? What are the amounts that i need to be making to get...

Hi everyone, I have read through many posts regarding this use and have yet to come to a definitive answer and an understanding of the tax laws with regards to trading/speculating on the financial markets. Here is my current situation: I am trading CFDs from the UK with FXCM. My deposit with...