Futures Trading Income Taxation - UK / Switzerland

[Homestud]

Hallo everyone,

I am a swiss citizen with a trading account in the UK. At the moment I am trading futures from Switzerland (the Eurex).

Where should I pay taxes. In the UK (where my account is) or in Switzerland (Where I am living)???

Could you help me ....

Thank you in advance


Best Regards ....

 

[Lightning McQueen]

Hi, as far as I can tell, being a Swiss resident you are tax liable to any worldwide income that you generate.

Check out this link for starters and consult a tax professional in your country that specialises in trading matters.

Hope that helps you a little, good luck

 

[Adamus]

Hi Homestud (interesting moniker, btw!)

what rate of tax do you pay in Switzerland? Or is dependent on the canton where you live, e.g. Zurich?

 

[George Soreass]

I'm thinking of trading in Switzerland, moving from London for tax purposes.... have you traded in London before? How much slower are the systems out there??

As for your question, I would assume strongly that if you're domiciled in Switzerland, you pay Swiss taxes. I trade dax futures, and earn in Euros, but pay UK taxes

 

[Adamus]

Hmmm, methinks you're not going to get a reply from Homestud.

As for broadband speed, you'll be able to get at least reasonable speeds I'm sure, especially in Geneva or Zurich (the financial capital). Check out Speedtest.net - World Results - e.g. Swiss Federal ETHZ gives you 65 Mbps

 

[Hittfeld]

Hi,

Being a swiss resident you are NOT taxed in the UK, if you properly declare your income from trading in CH (your Kanton/Heimatgemeinde), it might be zero, might be a lot more and even you might find yourself graded as a professional trader (gewerblicher Wertschriftenhändler) -even if you only take 5 trades a month). In that case you haven`t only the pleasure to pay the regular tax, but scocial-security (AHV) of ~ 9.5% of your income as well.

Incase you trade through IB, don`t consider them reporting to UK authorities only, you might be a subject of their offices (ZUG) as well.

gr......

Hittfeld

 

[Hittfeld]

...
what rate of tax do you pay in Switzerland? Or is dependent on the canton where you live, e.g. Zurich?

Yes!

Regards

Hittfeld