CGT tax allowance

[Lostsoul13]

A bit about my situation:

I’m currently on disability benefits- esa,pips -
Pips isn’t income dependent but esa is- 6000£ is the saving cap including stocks and bonds held.

I’m on housing benefits-

I could work self employed and earn up 167£ a week with esa.

But I heard someone where you have to declare any earnings over a 1000£???(is this true)
- how would I go about reporting my trading to hmcr in a self assessment ( do I just list the trade and ID number? Screen shots of the trades?

I’m a newbie here??
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But the CGT is 6000.

That equals to 500 a month and is in my budget of 167 a week.

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I’m looking to invest 3000/6000
On my average pip movement I’m catching 5 pips (500)

I only need 0.20 pips to gain 50£

If I’m really sitting at the office I can catch 15(1500) pips

That’s a total of 33-500£ I’m earning from a trade: I’m trading xauusa….

I probably will catch least two trades ride up and down vice versa..

Which takes me to anything 15,840-240,000

I understand I will have to pay CGT and income tax and national insurance??

Would I be considered self employed? Day trading?

Hence national insurance??

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[tomorton]

In the UK, profits from spreadbetting are exempt from all taxes. You don't even have to declare them to HMRC.

Spreadbetting is as well regulated as all conventional brokers, the protections for clients are the same. Markets available include company shares, indices, commosdities, forex etc. Account capital requirements are low and capital put at risk per trade can be pence.