Helping day traders establish their UK tax position
Should you pay income tax, capital gains tax or no tax?
Decipher Tax helps navigate the confusion
Day Trading is unlike most professions which fall into a specific category. With most other professions it is clear whether someone is employed or self-employed. Whilst an individual trading on their own account will not be employed, it is not always clear whether the trader is self-employed. Then there is the added complexity that the trader may be classed as a private investor or even someone participating in an activity similar to gambling. Each of these classifications have very different tax implications for those engaged in day trading activities.
If you are a UK resident happily day trading are you aware of how your profits and losses should be treated for tax purposes? If not, help is at hand in the form of Decipher Tax.