who spreadbets at £100 per point ?

bermudaboy

Junior member
10 3
You are over complicating things. If you are trading size via SB, you should be swinging over a 3 to 5 day period, that way timing is less important, and because of this you can split your trades. So if you wanted to do say £300 you can split it into 3 x 100 trades at a spread of 1.6, and off load when you see fit.

As your size increases you have to adapt your style. For example when I scalp I can get in for £50 a point sometimes, but on average £20 seems to be the uncle point (for whatever reason), so it makes no sense to carry on this way when I can swing for £200 a point without having to worry about slipping a point (which you do when scalping).

Once you gain pro status, margin is less of a b*llache. But margin is dangerous if you don't respect risk. BTW having pro status doesn't alter your tax implications, as this is relevant to the instrument/vehicle you are using to trade. 😜
Hi, thanks. Yep my dax trades are usuly done by 10am bst and have smaller targets whereas Dow can last more than 1 but are more momentum style so its all about entry and execution. Once my entry price has gone its gone and I will not chase. I suppose dividing the amount over 2 to 3 different sb brokers is the way to go if I can execute the same trade all at the entry price.?? Might need some help with other people's fingers. Thanks 👍
 

peterpies

Newbie
3 1
My bad,

I was thinking about these, which say they are spread betting,


But when you dive into the 'KID', they are CFD's and not spread betting.


They have stated through email, they are spread betting accounts,

'Please note the client will need to inform us that he is using the account for Spreadbetting and we can then provide a side letter to confirm the account is a spread betting account.'

Not sure how that would satisfy HMRC though.
 
G

guest41766

0 0
Have you considered once trading on this scale that you would fall outside of the tax free status of a retail trader and be liable for income tax. Many have said this is not the case on t2w but many other traders I respect have limited companies and do not spread bet.
 

MasterOfCoin

Experienced member
1,228 478
Trading through a limited company and a sole trader spread betting are entirely different things.

Spread betting does not incur UK income tax, regardless of scale.

Although, frankly why anyone sane would risk or try some of the scales discussed in this thread is beyond comprehension.

🙃
 
G

guest41766

0 0
If it went to court you would likely get off pay no tax on your profits but future profits would be taxed as they would class you as a professional going forward. The big hitting traders don't SB as they know this so it has never ended up in court. Futures do a significant volume of trading and are the product of choice for the scale of trading. Also you don't have counterparty risk with futures.
 

lexcorp

Experienced member
1,977 562
yeah, it's mad.
Within a few seconds of a winning trade you have this lol
View attachment 302581
this is him today:
Another day, another 100k. It blows my mind lol

1625668717068.png
 

MasterOfCoin

Experienced member
1,228 478
Professionally spread betting as sole retail trader in the UK incurs no tax liability.

No if's. No buts. No maybes.

And no chance of being taken to court.

|End of.


Big traders using limited companies to trade do so because they want to do things that would leave them liable to tax and thus using a company wrapper considerably reduces potential tax liabilities that would otherwise ensue.
 
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MasterOfCoin

Experienced member
1,228 478
True

False

Tax may be subject to individual circumstances
We've been through all this with you at great length once already.

Get it through your thick head once and for all.

Spread betting is tax free in the UK.

Got it ?
 
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G

guest41766

0 0
You want to protect your position as a SB'er. And don't see the light of the other side of the argument do you!
 
G

guest41766

0 0
The tax situation is hypothetical and depends if you lean on the side of caution (take advice and progress from Spread betting) or are willing to take the risk of defending yourself in court which you could win or lose.
 

MasterOfCoin

Experienced member
1,228 478
For avoidance of doubt, and to benefit anyone who might remotely consider that OFXTraderO might have even the slightest idea about anything to do with UK tax rules, please read the full account here:

💼
 

bermudaboy

Junior member
10 3
For avoidance of doubt, and to benefit anyone who might remotely consider that OFXTraderO might have even the slightest idea about anything to do with UK tax rules, please read the full account here:

💼
Hi ,its simple really myself and you and whoever if profitable spreadbetting have you had to pay tax..my answer is no.
 
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kevinberry

Junior member
40 6
No problems with the high amount but that would be very risky. You have high chances of losing in spread betting.
 
 
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