Sole Trader status

JP1966 said:
...I trade fx through my company...

JP, can I ask you please, if you are trading FX through a company (a UK limited company?) are you dealing in currency futures (rather than spot FX)? If so what are the pros and cons of doing this?

I can imagine that the likely advantage may be not paying 40% income tax on personal earnings, but could you get round this by spreadbetting?

Thanks!
 
I dont do fx via spreadbetting because the wider spread would mitigate any tax advantage, I believe.

I also don't like the speadbet platforms - they are slower to trade via. For example you usually have to close particular trades rather than just do a trade and let the software net off where appropriate.
 
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