Online prop tax uk??

[LuckyLukas]

Hello traders, new tax year on the way in UK. Got question how to deal with tax and previous years losses from online challenges companies like Ftmo MFF?? I had some withdrawals this year but obviously spend more for buying challenges.. Anyway things go very good recently and I believe next year will end up in profit. Do you consider this trading type self employed (contractor) when u sign contract with these companies?? How about deducting losses and what might be consider as cost loss?? (Challenge fees, software, laptop??) Thank you anyone for help

 

[Trader333]

Have you registered yourself as self employed to HMRC ? If not then you may find that you cannot claim to be self employed retrospectivley. Your best bet is to seek out professional advice on this subject.

 

[LuckyLukas]

Yes i got UTR nr but I am employed and my job is my main income, as far as I know until 1000 net profit I do not need report to HMRC. Anyway also need to know how prop online contracts are seen by HMRC because is demo trading mostly...