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Offshore company formation for traders & investors
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    Tax Planning for Shares, CFD's, Options, Forex & Futures

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    Tax Calculators For Traders

    Latest Tax Download
    Special Report:How tax hurts your investments -- moving abroad to retain your wealthSpecial Report:How tax hurts your investments -- moving abroad to retain your wealth
    Tax advisers often look at complicated schemes involving offshore trusts and companies to allow UK residents to minimise taxes on their investments, however in many ways the simplest option to avoid or at least substantially reduce your taxes is to move overseas yourself. In this downloadable report exclusively for our Gold members we look at how taxes impact on your investments and how (and where) to move abroad to reduce these taxes . . . keep reading


    Top Download
    Using a company will be even more attractive for property and financial investors after the increases in the Emergency BudgetUsing a company will be even more attractive for property and financial investors after the increases in the Emergency Budget
    Todays Emergency Budget has increased the rate of CGT to 28% for many investors. In this article we look at how this will make using a company more attractive for property and financial investors . . . keep reading

    Tax changes in the Emergency BudgetTax changes in the Emergency Budget
    Well, the Emergency Budget has now come and gone. There have been a number of tax changes, however its fair to say he hasn't gone as far as many people thought . . . keep reading

    Moving abroad to avoid the 45% rate of income taxMoving abroad to avoid the 45% rate of income tax
    The highest 'official' rate of income tax (known as the additional rate) was reduced to 45% from 6 April 2013 (previously 50%) although there is a 60% effective income tax rate on income between £110K-£113K. In this article we assess how moving abroad can allow you to avoid the 45% rate of income tax . . . keep reading

    Offshore bonds now more attractive after CGT and income tax changesOffshore bonds now more attractive after CGT and income tax changes
    The proposed rise in the rate of CGT should make offshore bonds even more attractive. In this article we look at why this is the case after the proposed tax increases put forward by the Liberal-Conservative coalition . . . keep reading

    Is it more attractive for financial traders & investors to use a companyIs it more attractive for financial traders & investors to use a company
    Given the lower rates of Capital Gains Tax (CGT) for non-business assets compared to higher rates of income tax, in this article we look at why using a company may be more attractive for financial traders and investors . . . keep reading

    2016 Finance Act
    The Finance Act 2016 has now received Royal Assent. The Chancellor of the Exchequer Philip Hammond will present the Government's Autumn Statement on Wednesday 23rd November 2016. . . . keep reading
    Capital Gains Tax for Contracts For Difference
    Tax Question: Hi, can you tell me how interest , commission and dividends in respect of Contracts for Difference (CFDs) are treated against Capital Gains Tax (CGT). Can capital gains and capital losses here be netted off also? . . . keep reading
    Example Capital Gains Tax (CGT) calculations on Contract for Difference (CFD)
    Example Capital Gains Tax (CGT) calculations on Contract for Difference (CFD) If you are investing in CFDs and are wondering how Capital Gains Tax (CGT) will apply to your profits this article will answer your questions. It explains how CGT applies to CFDs and include some examples illustrating the CGT position . . . keep reading
    Entrepreneurs' Relief
    Conditions for Entrepreneurs' Relief . . . keep reading
    Reducing tax on forex profits
    Tax Question: Hello, I live in the UK and I am actively trading the futures and the Forex market with 1 or 2 trades per day and making approximately US$100,000 per month. It is my only activity and I trade from home (my partner has a job in a UK company). I am looking for the best option to reduce my tax, which would be around 45%. 1) As I understand, I could have the option of creating a Limited company and I would be taxed at 20% on my profits. Is that correct? If I choose this option what would be the drawbacks of creating a company? 2) I am Belgian and I read on an article that being Belgian resident could be an advantage. Would it be interesting for reducing the tax on trading profits? What would be your advice? Is there any other option? Thank you in advance. . . . keep reading
    Offshore income and gains
    Howard Harris
    Beware - You need to Declare . . . keep reading
    Onshore v Offshore Planning
    Howard Harris
    One of the most asked questions on the Traders Tax Club is whether an investor should establish an offshore structure. In order to determine whether an offshore structure is appropriate for an indi . . . keep reading
    Trading, investing, a hobby or even gambling? Now that is a question!
    Do you wonder if the profits of your labour are liable to income or capital gains tax? . . . keep reading
    Tax relief for CFD loss
    Tax Question: Hi , if i take a loss on the sale of a CFD position , can I confirm this is allowed to be written off against another captial gain not just a stock one. So if i make £4000 on a house sale and lose £4000 on CFD investment. This can be netted off against each other. . . . keep reading
    Disclosure of gains/losses on US Treasury Futures
    Tax Question: I speculate on US 10yr Futures in my spare time. For the last tax year(2010/2011) I have over 600 transactions. I've made a small loss and am looking to roll the loss to offset any CGT next year. I'm trying to figure out how to do this on my online self assessment form. Do I have to submit a separate worksheet for each transaction?...if the answer is yes then that's 600 worksheets...how do other investors cope with this issue of volume transactions?...any help appreciated . . . keep reading
    Tax treatment of futures on non-recognised exchanges - USERNAME:W
    Hello, I am a resident for tax purpose in the UK (I am an individual and work in UK as employee). I had a lot of transactions only on the foreign stock exchange which was not recognised. Above transactions were only in derivatives - financial futures (cash settled contracts) - "contracts for differences" (HMRC Manual CGT CG56100 and CG56101). According to HMRC Manual CGT CG56043: Transactions in commodity and financial futures dealt in on a futures exchange which is not recognised will be liable to Income Tax (Case VI Schedule D). How to calculate profits or losses from my transactions if my above transactions fall within the income tax regime? 1. Which rules I must apply when match a disposal of futures contracts with an acquisition of futures contracts (or vice versa) from my transactions? May I apply FIFO method to matching disposed futures contracts with acquired (or vice versa))? 2. What is disposal proceeds and allowable costs for derivatives transactions - financial futures (cash settled contracts) - "contracts for differences" in the case capital gains and income. In my opinion disposal proceeds from financial futures (cash settled contracts) is payment (credited to the account) based on the increase in the value between entering into the contract and closing out the contract (in the case long position), while allowable costs are losses (debited from the account) based on the decrease in the value between entering into the contract and closing out the contract (in the case long position) and commissions, and fees for the brokerage account. Am I right? I would be grateful for answers to my questions asap. Thanks in advance for help. W . . . keep reading
    Sale of rights and CGT
    Tax Question: I received 2 for 3 shares @ 2.25 per share. I had 5600 shares @ £1.75 per share. I received £5459.74 in mar 2009. as part of rights not taken up. What is the capital gain. . . . keep reading
    Calculating capital gains for CFD's
    Tax Question: Please could you give me advice on my tax return for 2010-2011. I have recently been dealing frequently in cfd's and the problem is that I have multiple trades in the cfd's of several companies, with in some cases more than 20 trades annually and applying share matching rules would be very complicated. Nearly all of the trades, approx. 150, would be involved and it would seem to be impossible for me to do personally. There seems to be two different views about calculating capital gains for cfd's. The first is that cfd's are a fungible asset and should be treated as such by applying share matching rules. The second view is that you can take all of the debits and credits and net them off to arrive at a net annual debit and net annual credit and hence derive a net capital gain. To do the latter would be very easy and would simply involve getting an online printout of my account. Would this be acceptable to the HMRC? Incidentally, in case it is relevant, I made an overall loss. . . . keep reading
    Non Residence Calculator (2014+)
    Non Residence Calculator (2014+)

    This useful tax calculator will tell you if you will be UK resident or not based on your specific circumstances and the information you input. It incorporates the latest draft guidance issued by HMRC that applies from 6 April 2013. . . . keep reading

    UK Banks, Trading & Residency
    Tax Question: Dear Traders Tax Club, I have just read your article on, 'Tax treatment of non resident traders & investors using UK bank accounts'. Which I found very helpful up to a point. I have worked overseas as an aid and development worker since 1998 and been a non-uk Residence since that time. Before that I worked in the voluntary sector and was classed 'self employed' - however, I never generated enough income to pay UK Tax. So I have not had any dealings with the UK Tax system since 1992. In 2009 I decided to start a business, this actually got UK registered in September 2010. But in 2009 I set up a share trading account with my bank HSBC. I was informed that to do this I would need to be UK resident - also to start a UK registered company I would need to be UK resident. But according to my accountants I have not been in the country (UK) for more than my 92 days, therefore am still technically non-resident. But because I thought I had to be I opened an HSBC Share ISA. ( I've been on a steep learning curve about financial matters - this seemed to make sense if I an UK resident). So I think I have a legal problem as for the last two years I have held these accounts with HSBC. The bank keeps asking me about my residency... and I am now very confused. Every UK share trading site I have investigated asks me if I am UK Resident. So whilst your article would suggest that it is possible to trade shares from any where in the world, which trading site should you use?? Because you can't use a UK one or have a UK bank account. Please can you help? Yours very hopeful yet, quite confused, . . . keep reading
    Shorting and the bed and breakfast rules
    Tax Question: Generally speaking, when reading the capital gains manuals, should one assume acquisition and disposal are reversed for short positions? So, for the Bed and Breakfast rules, if you have a short position and then exit it and reenter it in less than 30 days then the purchase (exit) should match up with the second short (reenter)? And there will be a short pool similar to the usual one? Thank you. . . . keep reading
    Spread betting tax questions
    Tax Question: A) Whilst working full time for an employer & I did spread betting, would any gains from SB be liable to tax? B) If I worked part time for an employer & carried out SB part time. Example - 3 days a week, would any gains from SB be liable to tax? C) If I never worked for any employer & did SB full time, then would any gains from SB be liable to tax? D) What parameters do HMRC look at to define someone as a professional share trader OR can they state as you earn a living from SB as a full time income & have no other income can this be liable for tax as they can deem someone as a professional ? Or do they see any income from SB as Gambling & not deem it as taxable under their HMRC laws? E) What if for example I was able to earn £50k pa from SB -- can this be still tax free? . . . keep reading
    Options trading and UK tax
    Tax Question: Can you please advise how options trading on the S&P 500 on a monthly basis, in a US$ trading account is taxed in the UK, and where it should be put on the tax return? For example, if I placed $10k into a trading account, and over the year some trades lost and some won, and at the end of the year I had $11K, how do I disclose this in my tax return, capital gain or trading income? How would an auto-trade account on the US S&P 500 (which effectively copies someone else's trades) be taxed in the UK. i.e. will it be cgt or trading income. There are several call and put options traded each year, generally on a monthly trade. please reply asap . . . keep reading
    Tax treatment of spread betting income
    Tax Question: I want to start spread betting as a full time job, could you tell me the best way to arrange the taxes? is the income from spread betting going to be taxable? do i need to have a part time job? thank you for reply . . . keep reading
    Non domiciled spouse and IHT limits
    Question: I understand that a gift of assets from an individual who is UK-domiciled (UK dom) for Inheritance Tax (IHT) purposes to a non-UK domiciled spouse for IHT purposes is treated differently to a gift from a non-UK domiciled (non-dom) spouse to a UK domicile spouse. In the case of a UK dom spouse gifting to a non-dom spouse, only £55,000 of the gift is covered by the spouse exemption, whereby the gift is exempt from UK IHT. What are the implications for gifts made by a UK dom to a non-UK dom spouse. Furthermore, if the UK dom spouse had no funds of their own to begin with and the non-dom had then deposited a large amount of overseas capital in a joint UK bank account, can a subsequent transfer e.g. £100,000 from the UK joint account back to the non-dom sole overseas' account be regarded as exceeding the £55,000 limit, (the funds after all belong to the non-dom spouse albeit deposited in the UK joint account)? . . . keep reading
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