IB is subject to CGT which I'm pretty sure is £7200 a year.
With regards Spreadbetting versus actual trading, the difference depends on your timeframe. If your a short-term trader then actual trading is better because it's better to pay the extra commission and CGT.
For longer time periods though Spreadbetting is probably better.
Hi FTSE Beater, thanks for the reply, i have only been looking at the markets for about twelve months, within the next twelve months i will be trading. Along the way i am going to tot up what i would have paid in commission for each individual trade, and compare a ratio trade ( CGT ) as if i were to be trading for a living, to see what the difference would be between IB and SB, i'll keep the site posted. Any comments will not be taken offensively.