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Contracts for difference

Has anyone managed to convince themselves that a CFD only trader can be operating a trade for Income Tax purposes rather than falling within CGT?

For example, if he sets himself up as an 'independent trader' renting out an office, paying for access to data, etc.

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tax expenses/claims

I think this should prove useful http://www.contracts-for-difference.com/Tax-claims.html  If you are registered with the tax man as a trader you can claim expenses like claim books, courses etc as an expense. However, losses can only be claimed against profits made in trading....

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CFDs

Thanks very much - interesting site, although the link to that particular page is broken.

Do you have the text from that page by any chance?

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yes, that's strange

hi ronnie,

yes, that's strange - open the link - it will say 404 not found - copy and paste the link in your browser and remove the extra code (should end in html) - seems the link here has added some extra code which breaks the link.

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You will have to pay tax on your CFD trading - you can read abou

This link will be useful http://www.icmarkets.com.au/_blog/Articles_of_Interest/post/CFDs_and_Tax/

In most circumstances you will have to pay tax unless you can convince the tax man that it you were gambling. 

The is heap of tax info in this cfd trading blog.

 

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