Sensible Topic Tax

ok lads does anyone on here no about taxes ive got 200 quid and I want to have a go at the 60 second binary options to start with to see how I go ive been watching it for a few weak and have seen some patterns so if all goes ok do you have to pay tax on it and if you do can you claim taxes back on anything cheers all tony

ps with what i've think ive read its 25% but not sure

thanks will have a look later after all the football

ok ive had a read and agree with some of it says but not most of it

first its not illegal

so what are we saying the big fat rich cats don't like the average joe blogs have some of the icing on there big fat cake yes im might need regulating but at the mo its not all I wanted to no was abot the tax side of things if I did make any money

and what was wrong with him turning $250 into $2500 and if he done it at 55% it would of took him a long time and kept him out of trouble just the same as betting on horses dogs football and the loto just a bit more fun

Don't know much about 60 second binary trading, but from what I have read it is not just about spotting the opportunities but also you must be completely aware of how to open, close, and adjust your trades within the 60 second period.
It appears to be a quick way of making money but it also has the possibility of being the quickest way of losing money.
TONY HETHERINGTON: I lost £27,000 with risky trader banned in US | This is Money
As for taxation I'm pretty sure that it would fall into the Capital Gains category and so would be 18% when added to taxable income that falls into the basic rate tax band and 28% when added to taxable income that falls into the higher or additional rate tax band.

thanks D 8 for the info on tax

im still not sure though as im on benefits at the mo and it was something I could do from home as I wanted to try and get off benefits sometime next your but no there is not many jobs out there that I am fit enough to do cheers tony



its the same as any gambling though you can win or lose

tony49 said:

thanks D 8 for the info on tax

im still not sure though as im on benefits at the mo and it was something I could do from home as I wanted to try and get off benefits sometime next your but no there is not many jobs out there that I am fit enough to do cheers tony



its the same as any gambling though you can win or lose

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The whole Stock Market is just a glorified bookies.

Its tax free mate, all spread betting etc is tax free. I have been binary trading 20 minute options for a few weeks using IG Index so I would be interested to hear how you get on

ive been having a good read over the weekend Alonso

and from what ive red from jan 2115 its no longer classed as ( spread betting etc is tax free )and comes into capital gains tax

If you pay basic rate Income Tax

You’ll either pay 18% or 28% tax on your gains if you’re a basic rate taxpayer. How much you pay depends on the size of your gain and taxable income.

so once aginh thanks all

with a big thank you to D 8

It seems difficult to find any definitive answer on this.

If it is classed as gambling, then it falls completely outside the tax system: there is no tax on profits and no tax relief on losses.

Otherwise, there is a slim chance that it could be treated as a business liable to Income Tax, but you would have to be spending a significant amount of time doing it and earning the bulk of your income from it, like a professional stock broker.

Finally, it could be treated as Capital Gains, but everyone has an annual exemption (currently £11,100) and tax is payable (18% for a basic-rate taxpayer) only if total gains less losses in the year exceed that. Assuming that you are not going to have Capital Gains on the sale of any other assets, then you would have to be doing pretty well on the options to have enough gains to be liable to tax.

Probably no need to worry about tax then.