Uk what tax do i pay on derivative trading profits?
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hi, i'm a student and i trade derivatives and stocks on the side, and i am having trouble working out what tax band i would pay on the profits from these trades. I know how to pay ...show more
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Answer:
I don't think you have to pay tax on trading deritives as it is probably classed as gambling - but if you make a profit you must declare it to HMRC as otherwise they would start asking awkward questions as to where all that money was coming from, even though you might not be liable for tax on your winnings.
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