We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Tax for Day Trader
bilushh
Posts: 1 Newbie
Hello Guys,
I have been day trading since 3 years (USA Markets). In the 1st two years trading I have made losses. However, starting from this year I have started to make good profits so far (50K Pounds). I am now looking for some advice as to how should I declare my profits when time will come to submit my Tax returns. Also, I would like to say that I have another full time Day job ( I am a Dentist) and Day trade after I finish my job.
Can anyone recommend me an Accountant based in UK specialises in Day trading?
Thank you
I have been day trading since 3 years (USA Markets). In the 1st two years trading I have made losses. However, starting from this year I have started to make good profits so far (50K Pounds). I am now looking for some advice as to how should I declare my profits when time will come to submit my Tax returns. Also, I would like to say that I have another full time Day job ( I am a Dentist) and Day trade after I finish my job.
Can anyone recommend me an Accountant based in UK specialises in Day trading?
Thank you
0
Comments
-
No idea as regards a specialist accountant.......
...but surely you will just declare your profit from trading on your tax return as capital gains (less allowances/costs) and of course offsetting against the losses carried forward from your last two declarations on your returns......or are you expecting it to be a treated as a business?0 -
Most day traders would use spread betting. This is exempt of all tax (CGT, income and stamp duty). If you are not using spread betting, your trading and tax costs are likely to be significant (as could the complexity of administration required).0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards