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Im a financial trader how much will i be taxed?

Aiming to make 150k this year im a sole trader CFD and have no investers which tax will i call under

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So im aiming to make 150k this year 2019* i trade forex i dont do spread betting how much am i going to have to pay tax. Forex is my sole income. 

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14th Jan 2019 14:16

Yes, you'll be taxed. Your accountant can do the calculations for you

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14th Jan 2019 14:19

If you are aiming to make 150k this year you need to employ and accountant to help you. They can then take into account your personal circumstances better than an internet forum could.

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14th Jan 2019 14:23

Hopefully a lot. You could always phone HMRC and ask them how much they'd like, if you don't want to pay an accountant.

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14th Jan 2019 14:29

More without an accountant

Less with, (after allowing for penalties and interest if you stuff it up and come in less first up)

+ I like the optimism that you are going to make £150k as a FX trader.

That's like saying you are going to win £150k at the horses this year.

In my experience people either lose money in the first year and give up.
or make a load of money, and then proceed to lose is over the next 4 or 5 years, with the odd good year in between, not quite following the fact they it was only luck in the first place.

Quite happy to add up your losses however.

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14th Jan 2019 14:31

Your tax will be sixteen shillings and ninepence.
Send me £3,000 and I will see it gets paid.
None of yer forin money stuff, mind, stirlings only.

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14th Jan 2019 14:32

One things for sure, you're certainly not a wordsmith, are you?

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14th Jan 2019 14:43

If it's less than £150000, I'll be disappointed.

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14th Jan 2019 14:49

Closing this thread - thanks everyone for the reports.

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