hey all,
i live in the UK but i trade on my broker in the USA. does anyone have any idea who i pay my taxes too? should i be setup as a company or individual or if i can be pointed in the correct direction to get more information.
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Honestly, I suggest you inform yourself with a few books about taxes in the UK and trading.
After reading, go see an accountant. Go armed with questions to test him and make sure he knows what he’s talking about.
You can go to the library and find books about different business structures, and see what’s best for you. Don’t just rely 100% on an accountant. Do your research and you’ll be prepared to find mistakes when people misinform you.
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If you live in the UK you can spreadbet the forex markets and just forget about paying any tax at all. you don’t even have to do a self-assessment return or keep records. UK SB companies are regulated in the same way and by the same regulator as UK-based brokers.
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