Thread: spread betting
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Old 27-09-2009, 15:10
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Egwig Egwig is offline
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Location: UK
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Quote:
Originally Posted by Trading Gurus View Post
Essentially it's just the label on the tin. The same firm can, and often does, offer both. Call it betting and it's tax free. Call it forex, and if you're fortunate enough to be able to make a profit you pay tax on it. Mind you, if you make a loss it reduces your tax!

The sums are done slightly differently, but the main difference is in the packaging.

Jim
Thanks for the reply, Jim.

If it were as simplistic as that surely all UK brokers would offer tax-free accounts. It would presumably be in their interests to do so.

There has to be more to it than simply what they choose as a label.

I feel that there has to be some legislative factor somewhere in the equation not simply left to some whim at the sole discretion of the individual broker in what he chooses to call himself.

Perhaps I should ask them.

Egwig
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