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bigduckontax, Accountant
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Is there tax on trading binary options

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is there tax on trading binary options
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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Thank you for your excellent support.