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bigduckontax, Accountant
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Is there tax on trading binary options

Resolved Question:

is there tax on trading binary options
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. Trading on binary options is generally considered to be gambling and thus outside the scope of UK taxation. Having said that, if you spend all day glued to your PC trading in these options then HMRC are likely to consider activities as a business and any profits made therefrom subject to Income Tax (IT). So you see it all hinges on the scale of your activities. I do hope that you have found my reply of assistance.
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Expert:  bigduckontax replied 1 year ago.
Thank you for your excellent support.

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