Trader 333 appreciated it was a bad example.
But the tax advice is varied and subjective. There are very few people who make a living from Spreadbetting which means it is low priority for HMRC.
We all seem to agree that nobody should be able to make a living in the UK Tax free regardless of how that is achieved. If it is, as some are suggesting, a loophole then we all know loopholes get closed eventually and then you are betting the farm on it not being retrospective.
In this age when there is a focus on social spending and tax anything like this will come into focus eventually.
Spreadbetting as a hobby or casual fun is one thing. Making a living from it is something else and companies have build trading models that manipulate direct market trades into fake spreadbets just to make use of this loophole, to me that just means "when" not "if" HMRC get around to closing the loophole. Enjoy it while you can but maybe put a little aside in case that tax bill arrives..
But the tax advice is varied and subjective. There are very few people who make a living from Spreadbetting which means it is low priority for HMRC.
We all seem to agree that nobody should be able to make a living in the UK Tax free regardless of how that is achieved. If it is, as some are suggesting, a loophole then we all know loopholes get closed eventually and then you are betting the farm on it not being retrospective.
In this age when there is a focus on social spending and tax anything like this will come into focus eventually.
Spreadbetting as a hobby or casual fun is one thing. Making a living from it is something else and companies have build trading models that manipulate direct market trades into fake spreadbets just to make use of this loophole, to me that just means "when" not "if" HMRC get around to closing the loophole. Enjoy it while you can but maybe put a little aside in case that tax bill arrives..
