Trading Futures completely tax free

propwarrior said:
Hi

Is someone out there trading futures completely tax free? I am paying huge amounts of tax on all my income and I want to be cheered up by someone who is beating 'the system of tax slavery'.

Please tell me there is someone out there who lives in a 0% tax country and pays zero tax on gains they make from their US or European based futures trading account.

It's my dream one day to escape this taxation nightmare someone give me some hope.

Thanks
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Even if spread betting is supposedly "tax free" the commission you pay is huge so it doesn't help you much out there (there's nothing on HMRC's website about this...)

The only way you can avoid to pay taxes is to move to another country, such as Malta or Portugal. This means you can't be in the UK more than 90 days a year, otherwise you'd still pay taxes in the UK.

ISAs and other on-shore tax-friendly structure always end up being more expensive than your tax bill.
 
wintergasp said:
Even if spread betting is supposedly "tax free" the commission you pay is huge so it doesn't help you much out there (there's nothing on HMRC's website about this...)

The only way you can avoid to pay taxes is to move to another country, such as Malta or Portugal. This means you can't be in the UK more than 90 days a year, otherwise you'd still pay taxes in the UK.

ISAs and other on-shore tax-friendly structure always end up being more expensive than your tax bill.
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yep agreed i do some spread betting as I have other non trading income but you get hammered on the spreads and charges. Also you can only feasibly trade outrights via spreadbetting, I do a lot of future spreading so it has to be DMA.
 
Robert Morse said:
This does not help you, but might help other with retirement accounts. I used a self-directed retirement plan administrator to open my futures account at Wedbush Futures. The trading in my Roth IRA is 100% tax free and I get full SPAN margin like another account. I have also allocated toward a few CTAs with a Master/Sub structure so the CTAs share BP.

Contact me if anyone is interested.

Bob
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Yes likewise in the UK you can trade under a SIPP structure. You cannot access the fund until age 55 though and when you do access the fund a maximum 25% is tax free the remaining 75% is taxed as income.
 
propwarrior said:
Hi

Is someone out there trading futures completely tax free? I am paying huge amounts of tax on all my income and I want to be cheered up by someone who is beating 'the system of tax slavery'.

Please tell me there is someone out there who lives in a 0% tax country and pays zero tax on gains they make from their US or European based futures trading account.

It's my dream one day to escape this taxation nightmare someone give me some hope.

Thanks
More...

This thread talks about Singapore which is known as the Switzerland of Asia. It is ideal for investors. Don't even need to think of ways to beat the system of tax slavery on your futures capital gains. Not paying taxes on gains is legal in Singapore. Zero capital gains tax.

https://www.elitetrader.com/et/threads/singapore-the-switzerland-of-asia.309618/
 
wintergasp said:
The only way you can avoid to pay taxes is to move to another country, such as Malta or Portugal. This means you can't be in the UK more than 90 days a year, otherwise you'd still pay taxes in the UK.
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Malta looks great. I just checked and you don't pay tax on foreign sourced income as long as you don't remit it to a Malta based bank account. That is sweet. I am sure people get inventive on ways to spend their foreign income in Malta without remitting it.
 
helpme_please said:
Not my words. I was quoting OP (propwarrior).
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Yeah the words were strong but it is so frustrating what is happening in the UK. Personally I believe in small government and a small welfare state. If someone is badly disabled for example they should be fully looked after however we have a significant % of the population here who are out for everything they can get. I would prefer have a zero tax environment and pay privately for education & medical.
 
propwarrior said:
Yeah the words were strong but it is so frustrating what is happening in the UK. Personally I believe in small government and a small welfare state. If someone is badly disabled for example they should be fully looked after however we have a significant % of the population here who are out for everything they can get. I would prefer have a zero tax environment and pay privately for education & medical.
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It's not just taxes on futures gains. U.K has the most ridiculous and highest stamp fee on stocks in the world. 0.5% stamp fee on every stock transaction. They should be nicer to investors after Brexit. Otherwise, the financial hub status will be lost to Frankfurt pretty soon.
 
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