Declaring company assets/ tax return
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  1. #11

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    Quote Originally Posted by Kenny@MyAccountantFriend View Post
    Yes each closed trade would create a profit or a loss to determine any tax payable.

    If the business is day trading CGT may not apply as an individual as well as it is viewed as a trade as opposed to investment, so may explain the decision to go via a company.

    Thanks!

    As far as I know it's not exempt (only spread-betting), but as rules change constantly I couldn't answer without looking up more information

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    Quote Originally Posted by CupidAlaska View Post
    Thanks!

    As far as I know it's not exempt (only spread-betting), but as rules change constantly I couldn't answer without looking up more information
    Spread-betting is tax free (betting being the keyword here). Regarding your trading being taxed under CGT (which would be better than LTD Co. trading), your individual circumstances and how you trade must be reviewed by an accountant. I hope you had a discussion with one prior to opening your company? It's a good idea to get in touch with a professional so you understand how eventual distribution of profit (hopefully) to yourself will be made.

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    Quote Originally Posted by AntonioDJCA View Post
    Spread-betting is tax free (betting being the keyword here). Regarding your trading being taxed under CGT (which would be better than LTD Co. trading), your individual circumstances and how you trade must be reviewed by an accountant. I hope you had a discussion with one prior to opening your company? It's a good idea to get in touch with a professional so you understand how eventual distribution of profit (hopefully) to yourself will be made.
    Thank you Antonio,

    I have not found a suitable accountant yet. Do you know any? Or are you an accountant yourself?

  4. #14

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    Default Declaring company assets/ tax return

    Quote Originally Posted by CupidAlaska View Post
    Do you have anything else to contribute instead of mocking?
    I'm helping! I'm trying to snap you out of pissing 10k away.....

    100k lol!!

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    Quote Originally Posted by CupidAlaska View Post
    Thank you Antonio,

    I have not found a suitable accountant yet. Do you know any? Or are you an accountant yourself?
    I am indeed, feel free to get in touch via our website & I will respond to you personally.

  6. #16
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    roulette has better odds

    and it's tax free

  7. #17

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    10k into 100k

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    Quote Originally Posted by CloudWalker View Post
    10k into 100k
    Yeah lol!!

    Oh to be young and naive like CupidStunt....

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    Quote Originally Posted by CupidAlaska View Post
    Do you have anything else to contribute instead of mocking?
    In most cases the answer to that on these forums will be "No".

    Welcome to CUK!


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    Quote Originally Posted by Snarf View Post
    In most cases the answer to that on these forums will be "No".

    Welcome to CUK!

    I feel an infarction on it's way for trolling in the professional forums, I'll just take it on the chin like Bruce Forsyth would...

    I was goaded tho!

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