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bigduckontax
bigduckontax, Accountant
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Is tax payable on prop trading profits

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Hi is tax payable on prop trading profits

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

Please expand on what you mean by 'prop?.'

Customer: replied 16 days ago.
Basically its a proprietary trading company. I will not be an employee but i will be trading with one of their funded accounts, capital being theirs. Each month if can make profit for them, they will give me a percentage of the profits. If you need to see who they are its FTMO.com.

Yes, but in what are they trading?

Customer: replied 16 days ago.
Hi, its trading forex currency pairs

This activity is classed as gambling and outside the scope of UK taxation.

Customer: replied 16 days ago.
Ok thank you very much

Delighted to have been of assistance.

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