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Posted Wed, 18 Oct 2023 17:11:29 GMT by
Hi All, I have made some profits from trading futures and stocks on unrecognised stock exchange. I want to remmit these profits to UK. What tax should I pay on such profits (I assume it can be different tax for futures gains and security gains)? From here I can assume that futures gains are taxed as income: https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg56004 "Profits from transactions in commodity and financial futures dealt in on a futures exchange which is not recognised will be liable to tax as income if the transactions do not amount to trading" Is my understaing correct? Also looking for an advice on the same story with capital gains of stock trading
Posted Tue, 24 Oct 2023 13:46:18 GMT by HMRC Admin 32 Response
Hi,

Please also see below to determine if this is capital gains.

BIM53251 - Particular trades: commodity transactions

If so, the rate of tax depends on your level of income.

Capital Gains Tax rates and allowances

Thank you.

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