U.K. Spread trading

Now that capital gains tax has changed it may be worth looking at a non spread trade broker.

For peeps that don’t know the capital gain allowance is now £9600 (each for man and wife £19200) and then the tax is 18%
This will not affect any N.I or personal tax allowances, so part time working wife’s can still get £9600.

Wow hasn’t the government been good to us.
Well not quite, they have taken far more by not allowing indexing anymore.
If you bought a buy to let 10 years ago you could wright off a large percentage of your gain due to the time held.. This has now been stopped, so what has got investors hot under the collar is good news for traders.

As I don’t know anything about “Normal” type trading who are good brokers that don’t charge a commission and hopefully UK based.

Thanks

Mart
p.s. .I have been looking at the tax rules and income from gambling (Spread trading) must be “Casual” as they put it to be tax free !

hi mart - can you advise where you found the rules on taxation? Am think about making the jump to fx trading full time (if you can count 3 hrs a day FT) but dont want an unscheduled visit from our boys at the HM Revenue & Customs :nerd:.

I've found loads of stuff about setting up as an LLC in the US, but would need something similar in the uk.... any ideas?

Hi,
I found the information in study material from the ifs.
I am studying my final exam in CeFA (certificate financial advice)
It did not go into great detail though as gamblers tax affairs are a bit of a specialist subject.

More research required I’m afraid.

Mart