Hi all,
I'm new to this forum, although not new to forex; I am just coming to the end of my third profitable month and so am now thinking that it's time to consider the tax implications of forex trading!!!
I know there are a lot of previously asked questions on T2W relating to forex trading and the UK tax laws, however, either I am not typing in the right search question, or this specific issue hasn't been dealt with yet!
Basically, my focus at the moment is on account growth, so am not planning on withdrawing any funds from my broker until such a time as I have a large enough account to enable me to do so and live off the money (luckily my wife is covering the household bills with her salary to enable me to go on this venture!). So, my question is, if I am not withdrawing any money from my broker, do I have to declare this as income, or is it only taxable once the funds are realised into a bank account?
Thanks all
AC
I'm new to this forum, although not new to forex; I am just coming to the end of my third profitable month and so am now thinking that it's time to consider the tax implications of forex trading!!!
I know there are a lot of previously asked questions on T2W relating to forex trading and the UK tax laws, however, either I am not typing in the right search question, or this specific issue hasn't been dealt with yet!
Basically, my focus at the moment is on account growth, so am not planning on withdrawing any funds from my broker until such a time as I have a large enough account to enable me to do so and live off the money (luckily my wife is covering the household bills with her salary to enable me to go on this venture!). So, my question is, if I am not withdrawing any money from my broker, do I have to declare this as income, or is it only taxable once the funds are realised into a bank account?
Thanks all
AC
Another UK tax question
Aucun commentaire:
Enregistrer un commentaire