Trading For A Living

[markjpwill]

Why not just pay the tax? If its your main source of income, and you run it as a business then losses become tax deductible. I rang the tax office on this and they agreed "professonal gambler" is OK as a job. Thus you can (a) pay taxes - which are your obligation to society (b) live without wondering how long before the tax authorities find you (and trust me they will).

 

[julesrules]

dont get me wrong im happy to pay taxes
i just dont want to pay more than i have to

 

[JonnyT]

I've already told you the most likely tax efficient way to do this!

i.e. Limited Company, pay income upto Tax Threshold, Take further money as dividends.

Failing that go see an accountant.

JonnyT

 

[julesrules]

JohnnyT

thats what im going to do