Tax on forex profits via broker/3rd party?

Waitrose_Carpark

Hi everyone

Plenty of info around if you are trading yourself, but not if you are using a company (that takes commission) to trade forex for you.

My situation is this: I am investing a lump sum with a company that is trading forex for me. They take a % commission on any profits. Does anyone know what kind of tax rate I will be looking at for any profits I make?

Thanks

masonic

Why worry now? It's unlikely you'll have any profits to declare. If you do, then more information would be needed than you've provided about the nature of your contract with the trading company and the types of financial instrument they are trading, as well as your status (private investor vs self employed trader), to arrive at a firm conclusion. The company really ought to be able to give you some insights as to the tax treatment (or if they can't I'd be worried it's because nobody has ever needed to know!)

Mr.Saver

masonic wrote: »

The company really ought to be able to give you some insights as to the tax treatment (or if they can't I'd be worried it's because nobody has ever needed to know!)

People who has lost money in this company would still need to know the tax treatments to offset their gains from other investments.;)