Tax and CFD

[alanp314]

I am thinking of CFD,s.

In regards to the TAX situation with these instruments, can you wait until you have made more than your CGT allowance for the year until you tell the tax man?

I mean can I start to trade these instruments now and open an account today and wait until I start making money and when my CGT is hit then get the tax man involved?

There is not much in TAX advice anywhere......but this is just a simple question.

All i get when I ask is "We cannot give tax advice", another company told me "Well we dont give ANY details of accounts to the TAX man".

Any help with this would be good.

 

[Jack o'Clubs]

I am thinking of CFD,s.

In regards to the TAX situation with these instruments, can you wait until you have made more than your CGT allowance for the year until you tell the tax man?

I mean can I start to trade these instruments now and open an account today and wait until I start making money and when my CGT is hit then get the tax man involved?

There is not much in TAX advice anywhere......but this is just a simple question.

All i get when I ask is "We cannot give tax advice", another company told me "Well we dont give ANY details of accounts to the TAX man".

Any help with this would be good.

Exactly. You file a tax return after the end of the tax year to which it applies, and if you had taxable gains through CFD trading (or allowable losses for that matter), you'd tell the taxman about it then. No need to do anything in advance.

 

[barjon]

alan

you just put it on your annual tax return - the tax man'll then send you a bill (above CGT allowance).

good trading

jon

 

[barjon]

oops!!, might have known Jack would beat me to it

 

[Jack o'Clubs]

AlanP:
"Thanks guys for the quick answer on this, and the other threads where I've asked typical stupid newbie questions which with a bit of looking around I could have probably answered myself. Your time and expertise is much appreciated"

Or not. . Actually just six letters would have been okay: "thanks". Just to show you've read it and found it helpful. On any of your threads.

People go on about the lack of courtesy amongst young 'uns today, but I wonder where they get it from? And members wonder why the old-timers seem to disappear from posting on here after a couple of years.

(Rant over - in a particularly foul mood today for some reason).

 

[nkruger]

in a particularly foul mood today for some reason

-

Perhaps a happier looking avatar would help lift your mood ?

Yes - I agree with your rant though, J o'C

 

[Jack o'Clubs]

-

Perhaps a happier looking avatar would help lift your mood ?

nope. still grumpy

 

[nkruger]

Well, at least it's P.O.E.T.S. day today :cheesy:

(Although a bit tricky if you're trading the Dow today)

 

[alanp314]

IDIOTS on T2W

Thankyou for replies everyone. JOC, Barjon

You second comment JOC just shows a lack of intelligence on your part and comments like yours put people off and does nothing for T2W.

I have been SB for over a year but put off comming on here because of some of the stupid posts on here, like yours.

It was just a simple question. I have looked everywhere for an answer but thought it easier just to ask on here, but NO, someone like you does not like people asking questions, no matter how simple. I thought this is the type of place people ask questions, am I wrong in thinking this?.

I do not have to explain to you why I have not been on to thank people.

You have serious issues that you need to deal with. DO NOT ruin for everyone else.

I will not be checking this for replies anymore.

Thanks

 

[peto]

Thankyou for replies everyone. JOC, Barjon

You second comment JOC just shows a lack of intelligence on your part and comments like yours put people off and does nothing for T2W.

I have been SB for over a year but put off comming on here because of some of the stupid posts on here, like yours.

It was just a simple question. I have looked everywhere for an answer but thought it easier just to ask on here, but NO, someone like you does not like people asking questions, no matter how simple. I thought this is the type of place people ask questions, am I wrong in thinking this?.

I do not have to explain to you why I have not been on to thank people.

You have serious issues that you need to deal with. DO NOT ruin for everyone else.

I will not be checking this for replies anymore.

Thanks

I thought JOC had a fair point. I took time to reply quite fully to another thread that you started. I found it inconsiderate if not rude that you did not even acknowledge that contribution.

 

[alanp314]

Another one!!!!!!

I had been away for a while. Did not know that I HAD to check in every day to see if people had replied to my postings. Am I sorry.... NO, just shows what people are like on here. You cant have an intelligent discussion.

When I signed up on t2w they did not say about checking in every day.

I reiterate my comment to JOC to all who thinks its rude that I go away for a while.

You people.......................!!!!!!!!!!!

 

[peto]

I reiterate my comment to JOC to all who thinks its rude that I go away for a while.

Yep, probably best.:|