Mirror vs Self

motleytrader

Newbie
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Hello all. I'm a newbie here and would like to ask some advice please.

I'm UK based and have been using an EA service which you can either run on MT4 or directly with the provider with a mirror trading account.
I have 2 accounts running since end Nov 2011.
1) my own UK MT4 account which is up 15.47%
2) a US based mirror trader account which is up 25.8%

Am I right in thinking
1) that the personal MT4 account is spreadbetting and that I pay no tax on it (as I have income from another source and so it is not my primary source of income)
2) that the mirror account attracts CGT on gains as it is traded by someone else?

Any advice gratefully received. Thank you!
 
Hello all. I'm a newbie here and would like to ask some advice please.

I'm UK based and have been using an EA service which you can either run on MT4 or directly with the provider with a mirror trading account.
I have 2 accounts running since end Nov 2011.
1) my own UK MT4 account which is up 15.47%
2) a US based mirror trader account which is up 25.8%


Am I right in thinking
1) that the personal MT4 account is spreadbetting and that I pay no tax on it (as I have income from another source and so it is not my primary source of income)
2) that the mirror account attracts CGT on gains as it is traded by someone else?

Any advice gratefully received. Thank you!

gone fishing.........by a lazy lazy pool......:whistling
 
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