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Tax on Forex trading UK?
Posted: Mon Mar 25, 2019 6:28 am
by TheKMC
Hey guys I'm new here..
Just wanted to find out do we get taxed for the money what we make in forex when we want to withdraw it? I'm based in the UK and I have a full time job to where I pay tax...
Re: Tax on Forex trading UK?
Posted: Mon Mar 25, 2019 8:02 am
by Jimmy
TheKMC wrote: Mon Mar 25, 2019 6:28 am
Hey guys I'm new here..
Just wanted to find out do we get taxed for the money what we make in forex when we want to withdraw it? I'm based in the UK and I have a full time job to where I pay tax...
Welcome to the forum mate
No you won't be taxed in the UK because Spot FX trading is classed as speculative there so you dodge the CGT (Capital Gains Tax).
Re: Tax on Forex trading UK?
Posted: Tue Mar 26, 2019 5:00 pm
by TheKMC
Jimmy wrote: Mon Mar 25, 2019 8:02 am
Welcome to the forum mate
No you won't be taxed in the UK because Spot FX trading is classed as speculative there so you dodge the CGT (Capital Gains Tax).
Thats good
thank you for the info
Re: Tax on Forex trading UK?
Posted: Tue Mar 26, 2019 5:02 pm
by Jimmy
TheKMC wrote: Tue Mar 26, 2019 5:00 pm
Thats good
thank you for the info
Anytime dude