Tax in England
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Thread: Tax in England

  1. #1
    Join Date
    Dec 2006
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    Default Tax in England

    does anybody know if you have to pay tax on any earning made by forex trading?

    I know if you were spreadbetting on futures etc you would not have to pay tax.

    anyone got any thoughts etc?

  2. #2
    elang's Avatar
    elang is offline Superior Master Contributor and Member
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    Not unless you were a registered company or entity.

    You can just transfer directly from your broker to your account.

    And most banks will accept Statistic Print Outs from your Boker encoupled with your bi-way contract as evidence of income, for help in getting a loan.

    Also different banks have different transaction amounts per day limit.

    My bank for example doesn't care what sort of money goes through it and where it comes from as long as it remains under 40,000 Max per total daily transaction(s).

    Just thought u'd know.

    Regards,
    E. Lang
    Last edited by elang; 12-13-2006 at 08:01 AM. Reason: Typo

  3. #3
    Join Date
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    Just make sure that if you are spreadbetting then keep copies of all the transaction notes as believe me they will try to get you. I had a run in with them they didn't seem to know that spreadbetting was tax-free. I showed the blighters in the end and won.

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