Hi all, many thanks in advance for your time. I’m a complete novice in the forex world…
Im just wondering if anyone is able to advise me on whether or not legally i would be able to trade forex whilst receiving sick pay from my employer?
I understand forex is not taxable in the UK? I’ve contacted HMRC and another advice line and nobody has any idea what I’m talking about. I just don’t want to do anything that will get me into trouble or loose me my job.
Any help will be much appreciated! 
Forex trading is taxable in the UK, unless via spreadbetting. If your spreadbetting profits are your sole/main form of income, some people say you will be subject to income tax on these, but I have never seen any evidence of that happening to anyone. An accountant once advised me that HMRC would fight very hard against applying Income Tax to any trader in such circumstances.
Assuming your profits are not classed by HMRC as income there is no implication from trading while receiving sick pay. Your employer might or might not see it that way and they might, depending on your employment, suspect you were not really sick: that could be a problem.
Profits from forex trading in the UK via CFD’s are subject to taxation via Capital Gains Tax.
Thank you very much for your response.
Your help and time is greatly appreciated,
Hello,
I would that technically Trading or Investing is not considered as a side business. So except if you build a company for it, or practice full time you should not have problem. You have the right to manage trade and investment on your own.
What to pay attention:
Have a nice day,
PipsFisherman
My first reaction to this:
Well who is going to know anyway??? A trading agreement is confidential to begin with. So it’s not as if your employer is going to be able to track you down at your broker. And even if you do everything by the book insofar as taxation is concerned: your employer doesn’t (should not) have access to any of that information either.
And unless this is what you do for a living (which given your post it cannot be) well then what’s the difference between trading part time for a few bucks and being a musician and gigging over weekends for a few bucks???
And lastly: given that this is not the easiest of ways to make money (contrary to popular belief) your employer will in all probability feel sorry for you after you’ve lost money!!! LOL!!!
But you say you’re new to this. So exactly how long are you off sick anyway??? Because if you’re talking about a week or two or three I got news for you i.e. I wouldn’t be worrying too much about having generated income from this business!!!
There are a couple of points here.
a) - Why can you not work ? - I once went to work despite a sick note and was sent home because their Insurance did not cover me. - So you don’t need Insurance to trade - you are free to trade under this test.
b) - Tax implications. I believe in the UK trading (except as @tommor suggests and you may find advantageous) would be considered as “Investment income” and therefore subject to the “Capital gains” type regulations, which DO allow you to profit or “Gain” over £10,000 pa before tax clacks in - hence the decline in popularity of ISA s - The tax advantage is currently pretty much irrelevant !
JFDI ! 
Thank you for your response, very much appreciated!
Thank you very much for your response. Very much appreciated!
Loving the acronym at the end!
Yes, like some people really say who is going to know that ? And why do you asking that everywhere, simply keep silence and that’s really it. About the income for sure damn it’s taxable LOL, why do you even think it’s really not ? Who told you so ?
Not unless you have an offshore account in the Bahamas, but I prefer Belize - and get your broker to shift the funds to there.
Then you can just buy pizza using the handy little debit card linked to your offshore account.
All facilitated and made possible by none other than HSBC.
Otherwise you gonna have to get used to HMRC knocking on your door anytime for that 20% capital gains tax.