DislikedThere’s a reason why HMRC doesn’t bother pursuing solo spread betters, whose only employment is “self employment” as wretched gamblers. Can you work out why? {quote}Ignored
I think I have said why, its obvious.
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DislikedOh so you realised that close on zero full time spread betters make money, so the revenue cba pursuing them. The few that that do make money, taking it off spread betting firms’ bottom line, are grassed up to HMRC by the snide firms. {quote}Ignored
Disliked{quote} Yeah, I was going to mention that. If it's your only income, the tax man will not be happy letting you keep it all. Horse-racing pro-gamblers face the same problem. If you're successful enough to warrant worrying about it, then you will be able to afford a good tax-accountant who'll minimise your exposure anyway.Ignored
Disliked{quote} Hi I have an idea like targeting a pair with an the highest positive SWAP fee to buy or sell at a longer time frame best price and keep holding for longer time just aiming at the daily positive swap fee as a daily income instead of doing number of trading transactions. Daily positive swap fee per one lot - NZDCHF $5.6, AUDCHF $4.3, in case if we keep sufficient capital to go for 100lot and at a good price and kept for longer, we might get fixed daily income, so my question is do we have to pay for tax for it also? lets say in country like...Ignored
Disliked{quote} Hi I have an idea like targeting a pair with an the highest positive SWAP fee to buy or sell at a longer time frame best price and keep holding for longer time just aiming at the daily positive swap fee as a daily income instead of doing number of trading transactions. Daily positive swap fee per one lot - NZDCHF $5.6, AUDCHF $4.3, in case if we keep sufficient capital to go for 100lot and at a good price and kept for longer, we might get fixed daily income, so my question is do we have to pay for tax for it also? lets say in country like...Ignored
Disliked{quote} Issue with this idea is any move in the price of the currency pair could easily wipe out any gain from the swap income. Just have a look at audjpy and nzdjpy this year to date. Both pairs have high swap rates yet the audjpy and nzdjpy have weakened up to 700 and 500 pips between Jan and March. No such thing as "easy money", there is always a trade off. ------ There do exists real World ways in which you could take advantage of interest rate differentials but again, there are pros and cons and chances are, any cons will have to be offset...Ignored