Recent content by SpreadBeta

Link to a recent tax article discussing the most recent developments relating to income tax on gambling: http://www.taxandlegal.ie/ITRQ42014.pdf

F, given what your experience has been re:having to pay tax on SB profits.....a few thoughts... If HMRC wanted to they could surely easily obtain an electronic download (I would imagine they already are as don't all financial institutions have to pass records of all clients and their balances...

Following on from NVPs post above, on the badges of trade, and if/how HMRC may look at you to see if you are "trading" in there opinion, please find below a copy of a post I put into a similar thread last year where HMRC we're arguing that the individual was NOT actually trading (and the...

If you are mainly looking to trade ftse100 shares than most SB firms will offer them at 0.1% spread (either side) of the LSE bid / ask, so you can use any of them. However if you are looking at the ftse250 & smallcap shares then both CMC and GFT are the two I would recommend you look at. They...

I found the following link/tribunal case (DR K M A MANZUR vs HMRC) which is interesting in that it was the taxpayer that was arguing that they were TRADING (in shares in this case) and the arguments that HRMC successfully put forward to say that they were not. I assume that some of HMRC own...

In the UK if you are trading the underlines at real stock and futures exchanges is simply a way for you to ensure you pay 18-28% capital gains tax on any serious winnings. If HMRC decide you are doing it for a living then they may try to come after you for 40%+ rates of income tax . Spread...

For anyone who is interested the following article summarises the current Position re:UK Tax and Spread betting / gambling nicely...(summary:it's not taxable) https://www.accountancylive.com/tax-and-gambling-man

Tar, surly you mean it's a negative sum game for the Average trader, as shown by the 80-90% of traders loose statistic. However as one of the individual traders main advantages over "institutional" money/traders is that they don't HAVE to trade until the conditions are in their favor. (So the...

Bhupe, Between 10:10 and 10:15 on the third Friday of the month the shares on the LSE go through an intraday auction. (So the 17th jan was such an auction day). These intraday auctions are related to the expiry of equity or index option connected to these equities. During this time any spread...

According to their website HMRC don't seem to require you to complete a self assessment but they will want something in writing from you so they have a record of the loss you are declaring. I Suggest u give their helpline a ring and see what they will accept, if you are looking to declare the...

I believe that if you declare the loss on the self assessment forms this year, then you are able to offset that loss in future years ( up to 6 years I think) when you make more than the 10k Capital gains allowance. Hence saving CGT in future years. However To be sure I suggest you look at the...

Ah, probably too late to claim any rebate then !!!

The process to roll over trades, and the associated charges you incur in doing so are usually calculated by an overnight automated process in a SB firm. If one person has spotted errors in the process then it is quite likely that other clints of the SB firm are also impacted (especially if...

Hi ChaseLa, Having traded via both CMC And IG over the (11+) years I have had good and bad experiences with both of them. As such I still have accounts with both (and a couple of others also) and use whichever one gives me the best experience, prices etc at the time, or if I hit problems with...

A number of SB accounts have a form of DMA behind them. When I buy a few pounds a point of a smallcap share on IG I can see them instantaniously hedge it in the LSE market so in effect i have bought the sahes on the LSE at the LSE price plus IGs commission/spread. They dont always hedge in this...