I am planning to start an account with AAAFx to mainly use on Zulu. I am a UK resident. I would like to know what would be my tax liablities for any profits I make.
The AAAFx guys told me there are no tax implications since I am a UK resident. He didnt sound convincing though.
I do however believe that for small profits they may be considered as a ‘hobby’ and are left untaxed. A larger (ie 1/2 wage sized or above) profit will definitely have the Chancellor of the Exchequer wanting some of it to spend.
Check with a registered tax advisor to be sure though