DislikedThis may help Paulus:
http://www.financial-spread-betting.com/Tax-free.html
http://www.forexfactory.com/showthread.php?t=161108
I predominantly use Capital Spreads, their platform is responsive and rarely is a trade price missed. Their spread is usually 3 on EURUSD and 4 on GBPUSD
AndyIgnored
http://www.hmrc.gov.uk/manuals/bimmanual/BIM22017.htm
I went through hoops several years ago trying to get a definitive "yes" or "no" from IR re whether my "winnings" were taxable or not. Despite regular correspondence all I ever got were typical responses. The bottom line, as I translated it was: "It's up to you to decide whether you need to pay tax or not, but we reserve the right to chase after you for tax if we so decide." Not helpful.
It just goes to prove there is no formal definition in place, I'm sticking with my accountant who maintains I am not eligible to pay. If they want to come after me fine but they'll have to accept very small payments over a very long period of time if they can ever prove liability!
Full-time trader and loving it!