spread-betting disaster

Hi all,

A client has a bit of a problem. He has lost all of his (100% owned) company's money on spread-betting, and is facing a grim few years skint, but still paying the CT on his profitable trading activity. 

I know that spread-betting is non-taxable (BIM22020 et al) although the cases on that all refer to individuals. Has anyone seen this claimed as a trading loss in a company CT return?

The ideal would be to get trading relief, but worst possible would be to treat it as dividends. If it can't be relievable as taxable losses, does it just get washed through as a non-taxable company loss? or am I missing something.

Thanks

 

 

Comments
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occca |

Two possibilities

bookmarklee |
bookmarklee's picture

thanks

carlgr |

For obvious reasons ....

Steve Holloway |
Steve Holloway's picture

Your client was very rash I'm

luckystrike |