YouAreNotFree
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Well......this is embarrassing. I've been trading for a living (currencies, commodities) in the UK since 2011 and have been operating during that time as a SE sole trader. Not once have I ever sought professional advice (despite having family members who are accountants ). As incredibly naive and foolish as this is, when I started I never expected this to last. Hence the apathy.
This is my first foray into determining just what is the most tax-efficient way of operating. Gotta start somewhere!
In a nutshell:
Short term trading. Essentially day-trading.
Work from home.
Since 2017, after learning to code, trading is automated. Now working on new trading programs/ other programming projects
Higher rate(40%) tax band, but anticipate will be caught in additional rate within a few years
I live on ~20% of my pre-tax income
I funnel all spare funds into my sip and trading accounts.
31 years old with a high-risk tolerance.
So, any advice? What exactly are you guys doing?
This is my first foray into determining just what is the most tax-efficient way of operating. Gotta start somewhere!
In a nutshell:
Short term trading. Essentially day-trading.
Work from home.
Since 2017, after learning to code, trading is automated. Now working on new trading programs/ other programming projects
Higher rate(40%) tax band, but anticipate will be caught in additional rate within a few years
I live on ~20% of my pre-tax income
I funnel all spare funds into my sip and trading accounts.
31 years old with a high-risk tolerance.
So, any advice? What exactly are you guys doing?