Day Trading Taxes - How profits on trading are taxed
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Spread Betting - Trading Without The Tax
Spread Betting is a form of trading stocks, or any other security by placing your trades on a brokers/bookmakers price rather than the actual market. Trading this way means (in the UK) you don't pay any stamp duty or become liable for capital gains tax on your profits (if there are any!).. But lets get down to the nitty gritty, stocks, indices, forex or commodities, ideas to trade or charts to watch... :) All welcome..
Irish native living in Dublin. Dipping my toe in the stock market and wondering how tax works when trading internationally. Let’s say I trade shares from Switzerland, which has 0% CGT if your a non professional trader, do I still pay the 33% tax for Ireland? Many thanks, Conor
In the uk silver bars are subject to CGT … capital gains tax.
If I win the next job that I have priced today, I really fancy buying a 100oz silver bar with the profit… It’s not the brightest choice here but I would like one nevertheless🤞.. OB
The new budget by Jeremy Hunt, the Supreme Leader of the UK targets our precious metals by decreasing the Capital Gains Tax threshold to £3000. What do you think Apes? Can anything be done? At least coins are excempt from CGT but bars aren't
Hey all, this is a genuine question specifically relating to Capital Gains Tax in the UK. For those who may not know, we have to pay CGT on £12k or more per year. There is some weird algorithm they use, but if we are talking figures of £100k+ then you are looking at losing circa 20% on CGT. I understand fees, taxes etc, but i genuinely don't understand why CGT is so much given that the gov are not active in my investment at all. But that's not my question - more of a rant! My question is; I brought around half a BTC a while back and subsequently that bank account has been closed that I made the purchase from. I know that when when / if I sell my BTC off for fiat, the tax man will come calling. I am a hodler and expect to hodl for at least 12 years. As per GDPR my bank would have destroyed any information they have one me - If they haven't, I can request that they do this in a few years. If I sell my BTC off and the tax man comes calling for my CGT, what, in theory, would stop me from saying that I brought my BTC in cash for £400k and am now selling at a loss thus meaning that I don't need to pay CGT? After all, HMRC wont be able to prove that I haven't, given that the original proof of transaction has since been destroyed by the banks as per legislation. Any thoughts on this peep? Thanks
How do you report capital gains tax on forex trading?
For tax season, (for nonprofessional traders) when you report capital gains tax on your forex trading (and CFDs etc), do you enter each and every trade separately? Or do you calculate a total figure and just report that? After making many trades every day, it seem ridiculous to declare each and every trade separately for capital gain tax. Hows it done?
Question on tax on capital gains made from trading options with a US broker but im a UK resident
I know that this sub isn't the exact place to ask but there should be a few people on here who are UK citizens investing in US securities who could help me. So basically, I am a UK resident. I will be trading with a US broker with options. And to my knowledge the non taxable capital gain threshold in UK is £12,500 and for US it is $40,000 (to my knowledge, please correct me if im wrong) My question is: If I make just below $40k, and withdraw it from the US broker into my UK bank account, do I need to declare that to the HMRC as capital gain as it is above £12,500? Or is it nothing to do with HMRC? And do i need to do anything for the US in terms of paperwork if im below the 40k threshold? Ive found alot of vague information online so I want to be sure. Any help would be really helpful, thanks
Question on tax on capital gains made from trading options with a US broker but im a UK resident
I know that this sub isn't the exact place to ask about tax but there should be a few people on here who are UK citizens investing in US securities who could help me. So basically, I am a UK resident. I will be trading with a US broker with options. And to my knowledge the non taxable capital gain threshold in UK is £12,500 and for US it is $40,000 (to my knowledge, please correct me if im wrong) My question is: If I make just below $40k, and withdraw it from the US broker into my UK bank account, do I need to declare that to the HMRC as capital gain as it is above £12,500? Or is it nothing to do with HMRC? And do i need to do anything for the US in terms of paperwork if im below the 40k threshold? Ive found alot of vague information online so I want to be sure. Any help would be really helpful, thanks
Is capital gains tax(in the UK) calculated before or after US withholding tax is deducted?
Hi, I am a U.K. resident selling shares I have for a company located in the US. This of course means I pay withholding tax when I sell them. My question is, whether capital gains tax(in the UK) is calculated before or after US withholding tax is deducted? Thank you
Hi all, I have some stock trading CGT questions, would appreciate any help. During the summer I bought some stock of a company and then sold it shortly after and made a ~£200 profit. About a year ago, I had bought some stock of a different company, which I am planning to sell soon as its went down in value considerably. If I sell the stock now I will make a loss of ~£400. I have several questions regarding the above.
Even though I bought the stock of the 2nd company a year ago, I am assuming that counts as a loss for this tax year (2022/2023)?
Does HMRC consider both of the above transactions separately or are all stock trading transactions considered as a single capital gain/loss activity?
I am assuming I do not owe any tax considering I have made an overall loss of ~£200?
Are gains on US stocks bought and sold on Degiro subject to capital gains tax in UK or foreign income tax?
I am filling out HMRC self assessment from. My gains are below £12.3k but I’m not sure if I should declare them as capital gains or foreign income? I have no dividends
As the title implies, I'm expecting to have made taxable capital gains this tax year; does anyone have experience with this in the UK, or understand how HMRC treat this? To sum up my situation, I have made significant more gains than the £12,300 CGT tax-free allowance. I work full time, with my yearly salary being more than my trading gains, and have established from professional advice it is classed as Capital Gains Tax, not taxed as speculative trading or income. I have deposited £2,500 this year, I will have to calculate what that equates to exactly as dollars if required, but my PnL is currently approx $20,000. Do HMRC still see this as unrealised due to it still sitting in the tastyworks account as dollars? And not a crystallised gain in GBP? If a tax return IS required, is it a case of £2.5k in, and the USD to GBP on my taxable profit as of 5th April, (end of tax year). I will not be subjected to withholding tax, so that is one less thing to worry about. I'm getting conflicting information from various sources, I'm hoping someone may have experience in this.
Like a good citizen I'll end up paying some capital gains tax on the money when it finally arrives. The thing is, it is quite difficult to say what the gain is. I mean, there isn't a ledger from MtGox that states the price I finally paid for my bitcoin, or is there? I can't actually remember what I "paid" for the coin as I was day trading on the day of the crash. Funny to think gox had none of that money and that was all just a game. Anyone from the UK in a similar situation? Any idea how you would calculate the capital gains tax on the money? HMRC says this: "If you do not have records You must try to recreate your records if you cannot replace them after they’ve been lost, stolen or destroyed. If you fill in your tax return using recreated records, you’ll need to show where figures are:
estimated - that you want HMRC to accept as final
provisional - that you’ll update later with the actual figures"
So presumably I can "estimate" what I paid for them here. I guess if I took the median of the spread on the day of the crash that might make sense.
UK capital gains tax realise profit every year to maximise tax-free allowance
Hi everyone one thing I don’t get is why I don't here this more often am I missing something, as far as I can tell you should do everything you can to max out your capital gain tax allowance, so say you have some stocks you like and they have done great most people seem to say hold for a decade or more but then you would have a huge tax bill when you come to sell, you save a small fortune by maxing out your capital gains every year even if that means selling some stocks you like and re-buying them in a little while I read somewhere you have to wait 30 days before buying the exact same stock, Any input most welcome p.s. this is regarding non ISA account
Day trading taxes are anything but straightforward, and it’s the last thing you want to deal with after a roller coaster year, that’s hopefully ending in the black. Tax reporting means deciphering the multitude of murky rules and obligations. This page breaks down how tax brackets are calculated, regional differences, rules to be aware of, as well as offering some invaluable tips on how to ... Forex market hours uk daily mail / Trading system Forex funyoo; Binary options best robot / Bollinger bands macd; Sdn liteForex 2020 ; Forexpf ru rinki / Force index; Forex market hours uk daily mail / Binary hunter; Network penetration testing basics of investing / Gcm Forex himonos; Heidelberg center for social investment network / Matti lassila pilot invest oysters; MT4 windows mobile ... I am just writing to make you be aware of of the amazing encounter my wife's daughter enjoyed viewing your webblog. She came to understand some details, most notably what it's lik 9780110792002 0110792009 The Visiting Forces and Allied Headquarters (Income Tax and Capital Gains Tax) (Designation) Order 1998, Great Britain 9780691001296 0691001294 Analytic Narratives, Robert H. Bates, Avner Greif, Margaret Levi, ... 9781411687141 1411687140 Seasons & Sonnets, Michael Petti, Minerva Bloom If you are wrong in your dj forex news, your option dj forex news out of money and you lose your invested capital. Money dj forex news an important. Deposit binary customer can. A-1 Don Juan from Sheep Springs I was out of town. Unifei. The dj forex news is trading at a cyclically adjusted 14x CY 2015 EPS and pays a 4-percent dividend. Options ...
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