Spread Betting Online within Ltd Company

[lindsay~]

This might sound like a stupid question but I'm looking to start Spread Betting using Ltd Company funds.

Is this possible? All the spread betting site application forms I've looked at online ask for individual names and there doesnt seem to be a provision for company names anywhere.

Advice appreciated.

Lindsay

[QwertyBerty]

Originally Posted by lindsay~

This might sound like a stupid question but I'm looking to start Spread Betting using Ltd Company funds.

Is this possible? All the spread betting site application forms I've looked at online ask for individual names and there doesnt seem to be a provision for company names anywhere.

Advice appreciated.

Lindsay

If you use your name and company money to fund it and record all your gains and losses in the accounts it should be fine.

QB.

[SantaClaus]

Originally Posted by lindsay~

This might sound like a stupid question but I'm looking to start Spread Betting using Ltd Company funds.

Is this possible? All the spread betting site application forms I've looked at online ask for individual names and there doesnt seem to be a provision for company names anywhere.

Advice appreciated.

Lindsay

Why would you want to do this? Spreadbetting is taxfree for individuals.
The only way of getting money out of your company without paying tax is to make a "capital distribution". If you have held the company for a number of years, you may be able to use a capital distribution and taper relief to get the money. But I would consult an accountant if I were you.

Hope you know what youre doing with spreadbetting. 95% of people blow their account.

I agree with QwertBerty's advice, but you will need to use a proper broker rather than spreadbetting co. The advantage might be that you will be able to deduct losses from your tax bill, but again consult an accountant.

[moorfield]

Originally Posted by lindsay~

This might sound like a stupid question but I'm looking to start Spread Betting using Ltd Company funds.

Why do you want to do this? Sounds like a recipe for disaster to me.

[wantacontract]

Don't do it!!!

SB is hard.......you needs years of losses before making any money, even with the current bear market....

If you must, paper trade. If you cannot double the stakes after a period of multiple trades through a six month period, then give up.

Personally I wouldn't. Emotions such as fear and greed become magnified, and those two will prevent the golden rule of cut loss and run profits.....

Having won thousands and loss thousands, the roller coaster really wasn't worth it.....

Better off spending your time earning rather then trying to gamble...

[Andy2]

what about stocks daytrading? Can you use company's money for that ?

[lindsay~]

Thanks for your thoughts everyone!

I'm not really in a position to work much, had a nice lucrative contract that I couldnt refuse and worked for 6 months and have built up a nice little pot. Having small kids it was hard and now I am back home looking after them full time but I do have some free time to play the markets.

I'm paper trading at the moment and learning the ropes. But I have a bit of cash that I can afford to lose and to me this seems like an oppoturnity to increase the capital.... Maybe that's naive - probably, reading your experiences/advice!

Am planning to trade shares too.

L

[HairyArsedBloke]

I keep getting e-mails from people in West Africa offering to cut me in for a share of a magic bean farm. Should I front the money for this venture from the bank account where I keep the tax money?

[thunderlizard]

Originally Posted by Andy2

what about stocks daytrading? Can you use company's money for that ?

Of course. I believe there are already some companies that do that. In fact a few of them have been in the news lately.

hth
tl

[BolshieBastard]

A limited company is its own legal entity. I cannot see any valid reason why a limited co would want to be involved in spread betting never mind allowing its money to be spent in such a way.

No wonder contractors get investigated by HMRC.