Reply to: Declaring company assets/ tax return

[stek]

#bantz
#archBishopOfBanterbury

#BatanamoBay

[Snarf]

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!

#bantz
#archBishopOfBanterbury

[stek]

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!

[Snarf]

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!

[stek]

10k into 100k

Yeah lol!!

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

[CloudWalker]

10k into 100k

[pr1]

roulette has better odds

and it's tax free

[AntonioDJCA]

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.

[stek]

Declaring company assets/ tax return

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!!

[CupidAlaska]

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?

[AntonioDJCA]

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.

[CupidAlaska]

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

[CupidAlaska]

I think what's likely to happen is the 10k will be turned into 0k pretty quickly, minus the broker's commission of course. They are the only winners in these games....

Do you have anything else to contribute instead of mocking?

[CupidAlaska]

Surely, if you lent the £10k to the company, you would have transferred it into the company bank account and then transferred it from there, to the broker.

The £100k would then be paid by the broker to the company bank account and your company transfer £10k back to you.

At the moment, it sounds like you've set up a company with a balance of £0 and given £10k of your money to some bloke.

<- I don't follow?


I wouldn't transfer all of the 100k back into the company bank account, that would mean that I couldn't continue trading. In this instance, I would transfer 10k from my trading account back into my business account and then back to me. So I don't understand your last point about giving money to a bloke? When I say broker, I mean my online trading account. I am the broker.

[stek]

I think what's likely to happen is the 10k will be turned into 0k pretty quickly, minus the broker's commission of course. They are the only winners in these games....