Capital gain tax in UK

[ZBZB]

what about the stamp tax on transactions?

No stamp duty on spread bets or CFD.

 

[zdreg]

No stamp duty on spread bets or CFD.

spread bets are a ripoff and banned in the US.

 

[Quiet1]

IG Index's results are always worth a look for "revenue per customer". Latest results show "pro" customers in Europe getting absolutely hammered.

 

[Quiet1]

slide 11

 

[Jain546]

Thank you all for your messages

Looking at your links I guess I am correct with the taxation rates for capital gains (0% up to £11,700 and then 10% and/or 20%).
https://www.which.co.uk/money/tax/c...l-gains-tax-allowances-and-rates-a0muq0c65cd7
Regarding stamp tax on transactions, it seems to be for UK shares only so it won't be applicable to me since I trade US and French stocks.

With regards to your second question. Tax regulation is complex and I have no definite answer. However, it is my impression that in most countries the distinction between capital gains tax and being taxed as a business does not depend primarily on whether you have a job or not. Usually factors such as volume of trade, frequency, education and whether you have worked in the financial industry are more important.

I think that's right for most country. For example in Switzerland (as far as I know). But in France the impression is that to tax CGT as a business will hardly happen when having a full-time job beside. About UK, it looks more obscure to me but if I turn jobless I guess it won't be a problem to continue trading and paying CGT the same way as above as long as it is for few months and for relative small amounts. Otherwise it will need to meet an accountant.

 

[zdreg]

Regarding stamp tax on transactions, it seems to be for UK shares only so it won't be applicable to me since I trade US and French stocks.

then why does the cfd or spread segment exist? it can't be taxes only.

 

[Visaria]

spread bets are a ripoff and banned in the US.

Why are they a ripoff? Is US futures trading a rip off as well?

 

[tomorton]

Spread betting is an option if you trade infrequently.
The main downside with spread betting is the possibility of getting a much worse fill during a price spike compared to what you might of got in the real market.

eg:

https://www.euromoney.com/article/b...-poster-child-ig-in-the-line-of-fire-post-snb

What is the sort of price differential between broker prices and SB prices for trading forex?

 

[southall]

What is the sort of price differential between broker prices and SB prices for trading forex?

Day to day not much differences.
But during price spikes is when they will give you worse fills and rip you off.

This was an example from the CHF spike a few years ago:

IG provided a rate of 0.9250 on the EUR/CHF pair. The rate has been much lower when compared to a number of other retail brokers who started filling client orders at rates above 1.1200.

https://www.financemagnates.com/for...nc-trades-after-financial-ombudsman-decision/

 

[tomorton]

Day to day not much differences.
But during price spikes is when they will give you worse fills and rip you off.

This was an example from the CHF spike a few years ago:

IG provided a rate of 0.9250 on the EUR/CHF pair. The rate has been much lower when compared to a number of other retail brokers who started filling client orders at rates above 1.1200.

https://www.financemagnates.com/for...nc-trades-after-financial-ombudsman-decision/

OK, thank you for this.