I am hoping someone can answer / confirm the following:
If you trade CFDs full time and earn £150k per annum as a Ltd company, am I right in saying you would pay taxes in the same way as if your Ltd company was undertaking any other general business trade in the UK. In other words you would need to submit your profits and losses to Companies House and HMRC each year in accordance with their rules. Is that correct?
If that is correct - please answer me this - If you also earned £100k per annum in the same year, so you are basically trading CFDs and spreadbetting - would HMRC deem that your Ltd company was your main source of taxable income and the spreadbetting profits are all tax free because they are not your sole source of income.
I haven't seen anyone ask this question. I personally think that this legally should be accepted by HMRC.
Are there any accountants who can confirm that you can both trade CFDs and spreadbets at the same time and keep the spreadbetting profits tax free?
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