I think that if I am ever challenged by HMRC I would prefer to refer them to their own rulings and advice.Amazing how many come out of the wood work for these tax threads just shows most don't get professional advice but rather justify themselves by links to HMRC content, I guess that what separates the amateur from the professional: DIY investors.
Best option for tax free investing is to max out an ISA each year and trade AIM penny shares.
MoneyAdviceService is a government website of the Department for Work and Pensions and would not be giving false advice.
The Money and Pensions Service | Building financial wellbeing
Introducing the Money and Pensions Service The Money and Pensions Service (MaPS) is an arm’s-length body sponsored by the Department for Work and Pensions, established at the beginning of 2019, and also engages with HM Treasury on policy matters relating to financial capability and debt advice...moneyandpensionsservice.org.uk
High-risk investment products | MoneyHelper
Investments that promise big returns often come with big risks. They're not illegal or scams but you could end up losing money. Read about the main types in this guide.www.moneyadviceservice.org.uk
Independent accountants give professional unbiased advice...try it. Rather than feel protected by the mass of punters who think for themselves because it's in there own interest.
Why is there no GAMESTOP and gambling aware on spread betting sites its because they differ from sports betting shops.
I'm not a random person, I have personal experience of the UK tax system as it relates to SB. I have made in excess of the income tax threshold using SB alone, and with no other income, and yet have paid no tax..
got to say, im stumped. The depths of this conversation is staggering
There are probably several good reasons why the traders you have known might use another form of market access than SB.
You still hold to the idea that SB profits are taxable. But you have no personal experience of the situation and no evidence for your belief except hearsay.
There several good reasons why some people register a limited company and several good reasons why others don't.
lol, you don't need additional professional advice when the guidelines on Her Majesty's Revenue and Customs website covers it. What part of Spreadbetting being tax free don't you understand? is it the carrying of the trade definition? Because outside of this clause its black and white.Amazing how many come out of the wood work for these tax threads just shows most don't get professional advice but rather justify themselves by links to HMRC content, I guess that what separates the amateur from the professional: DIY investors.
Best option for tax free investing is to max out an ISA each year and trade AIM penny shares.
MoneyAdviceService is a government website of the Department for Work and Pensions and would not be giving false advice.
The Money and Pensions Service | Building financial wellbeing
Introducing the Money and Pensions Service The Money and Pensions Service (MaPS) is an arm’s-length body sponsored by the Department for Work and Pensions, established at the beginning of 2019, and also engages with HM Treasury on policy matters relating to financial capability and debt advice...High-risk investment products | MoneyHelper
Investments that promise big returns often come with big risks. They're not illegal or scams but you could end up losing money. Read about the main types in this guide.
Independent accountants give professional unbiased advice...try it. Rather than feel protected by the mass of punters who think for themselves because it's in there own interest.
Why is there no GAMESTOP and gambling aware on spread betting sites its because they differ from sports betting shops.
