UK TAX on forex trading?

Hi
I would like to know the tax implications on trading the forex using a broker.I am not interested in tax free spread betting.
thanks

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Posted in: learn forex trading

Tags: forex, Trading

This entry was posted on Monday, February 22nd, 2010 at 11:29 am and is filed under learn forex trading. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “UK TAX on forex trading?”

David H February 22nd, 2010 at 12:00 pm

There are a few special rules about the rate of exchange to use and the treatment of exchange differences, but basically the sterling profit is almost certain to be charged to income tax as trading income rather than to capital gains tax.

James K February 22nd, 2010 at 12:25 pm

You can download a free step-by-step guide at http://www.forexfromscratch.com – just type your name and email and they will email you the book.

Basically, the book is a 5 step guide to starting in forex, covering everything from the basics to live trading accounts.

It’s a VERY interesting read… and it’s free!