UK Tax on Forex signal providing

DerkFX

Recruit
Messages
2
I am aware of capital gains tax for Forex and the tax free status of spread betting but what if such trading is used to provide a signal through MQL5 or Autotrade for example? If you are successful enough a secondary income would be paid into your bank account but would it come under the same tax rules or be taxed as normal income?
 

pezz55

Sergeant
Messages
134
Would still think it would be under capital gains. i always wounder if you could set a company account and run it through that would you then process it through 20% buissines rates?
 

JayJones

Sergeant
Messages
184
Would still think it would be under capital gains. i always wounder if you could set a company account and run it through that would you then process it through 20% buissines rates?
Capital Gains is 20% anyway.
 

pezz55

Sergeant
Messages
134
I am aware of capital gains tax for Forex and the tax free status of spread betting but what if such trading is used to provide a signal through MQL5 or Autotrade for example? If you are successful enough a secondary income would be paid into your bank account but would it come under the same tax rules or be taxed as normal income?
did you ever find more info on this?
 

sebking1986

Recruit
Messages
194
I would think it depends how you set yourself up. If you are personally doing it in your name then it would need to be declared as anyone providing a service would. if you set up a company to do business under then more liekly CGT
 

Petezaa

Recruit
Messages
166
I am aware of capital gains tax for Forex and the tax free status of spread betting but what if such trading is used to provide a signal through MQL5 or Autotrade for example? If you are successful enough a secondary income would be paid into your bank account but would it come under the same tax rules or be taxed as normal income?
Wouldn't worry about it until you earn x amount. If you are taking signals, I doubt you will make much as most signal providers are garbage.
 
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