Spread Betting and Forex Trading AccountingWEB

Spread Betting - Trading Without The Tax

Spread Betting is a form of trading stocks, or any other security by placing your trades on a brokers/bookmakers price rather than the actual market. Trading this way means (in the UK) you don't pay any stamp duty or become liable for capital gains tax on your profits (if there are any!).. But lets get down to the nitty gritty, stocks, indices, forex or commodities, ideas to trade or charts to watch... :) All welcome..
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Exchanging foreign currency on Revolut: subject to capital gains tax?

Hi,
I just would like to confirm if my understanding is correct: gains from switching between different currencies on Revolut (or comparable apps/online banks) are not subject to capital gains taxes?
I found some confusing statements online, with this being the clearest one, which seems to indicate that my understanding is right indeed:
> Capital gains arising on withdrawals of money in foreign currency bank accounts will not be liable to capital gains tax (CGT), and capital losses will not be allowable losses.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/192091/foreign_currency_bank_accounts.pdf

On the other hand, some information I found is contrary to that:
> It can be tax free when carried out on spread betting accounts. Gains that may arise from ordinary currency trading, however, are typically taxed as capital gains or income.
https://www.quora.com/Is-Forex-Trading-actually-tax-free-in-England

Could someone confirm what of those two is right, please?

Thank you!
submitted by OddConsequence3 to UKPersonalFinance [link] [comments]

CFD'S VS SPREAD-BETTING Spread Betting Course - YouTube Top Guidelines Of Avoiding UK tax on spread betting and ... Spread Betting Strategies and Ideas UKspreadbetting - YouTube Lesson 7: Taxes in Spread Betting Benefits of spread betting

Forex trading is tax free in the UK if it is done as spread betting by an amateur speculator. How do you pay tax on Forex? In the U.K., if you are liable to tax on personal profits from Forex trading, it will be paid and charged as Capital Gains Tax (CGT) at the end of the tax year. Spread Betting. Spread betting is a tax-free * way to take advantage of rising or falling markets, including FX and metals. Financial spread betting is a derivative product available to UK residents only. WHAT IS SPREAD BETTING? * UK Tax laws are subject to change and depend on individual circumstances. Please seek independent financial advice as tax law may differ in a jurisdiction other than ... Spread Betting is different from forex trading Spread betting is treated as gambling- so normally outside the tax system. Forex trading using futures or margined accounts will be trading. I have a few clients who trade futures, they are taxed as if it were a trade. I would be very interested in corresponding with you as my client would love to ... This last point is a peculiarity under UK tax law and probably not relevant to non-UK residents, though it's very relevant here, of course! A lot of people have out-of-date and/or even prejudiced information about spread-betting. (iv) they are safer and better regulated (by the FSA, a real watchdog with active involvement and real teeth). My own view as a part-time forex trader is that spread ... The providers that offer spread betting pay betting duty direct to the HM Revenue & Customs, so the bid-offer spreads tend to be slightly higher to cover the tax. From 6 October 2001 there has been a 3% general betting duty charge on the financial spreadbet company's net stake receipts (that is, the total of all bets received, less any winnings paid out). As such the taxman will treat any ... The tax on forex trading in the UK depends on the instrument through which you are trading currency pairs: you can fall under spread betting or you can trade contract for difference (CFD). If the trading activity is performed through a spread betting account the income is tax-exempt under UK tax law. Yes, Forex trading in the UK is tax-free because it is defined as spread betting.Tax system mark this spread betting industry as tax-free. If you’re looking to get started in trading forex, it is important that you are properly informed on the taxes you will be required to pay.

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CFD'S VS SPREAD-BETTING

For UK citizens spread betting is treated as gambling and as such all spread betting winnings are tax-free. PLEASE SUPPORT US BY LIKING THIS VIDEO IF YOU FOUND IT USEFUL We also don't have to pay ... Spread Betting Strategies and Ideas. 4 Spread Betting Strategies 4 Spread Betting Strategies - Trend Trading; a trend is basically something that is continuing in one direction. Spread betting is basically a tax-free wrapper (if you're in the UK) of speculating on the direction of a market.. This could be the direction of an index like the FTSE 100, a currency pair like ... This is a spread betting training course for traders with a particular focus on short-term trading. Learn spreadbetting from an experienced trader in the fie... It’s a bet on price, so it’s down to you to say which way you want the bet to go. If you spread bet and win, then you normally don’t pay capital gains tax. If you lose however, then your ... In this video, I explain the differences between a contract for difference (CFD's) and spread betting, how this can help you in your own trading as well. Financial-Spread-Betting.com is where betting and finance meets, on the trading floor. This is a place where we can inform, and educate little, and hopefully... Financial-Spread-Betting.com is where betting and finance meets, on the trading floor. This is a place where we can inform, and educate little, and hopefully entertain a little too. Spread betting ... Spread betting is a derivative product that offers traders a range of benefits over traditional investing. These include leveraging positions to make your capital go further, going long or short ... CLICK HERE FOR MORE INFO: https://rebrand.ly/forex33 And start earning in the Forex Market Now! In our growing multinational corporate environment, there are...

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