Sole Trader status

[BroadSword]

...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!

 

[frugi]

http://www.trade2win.com/boards/showthread.php?t=15222

may help a little.

 

[JP1966]

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.