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Posted Thu, 25 Jan 2024 00:30:36 GMT by
Hi there, 3 years ago I moved monies into a US Traded Options Brokerage Account. I unsuccessfully traded, and ran the funds down by 90%, at which time I ceased trading. 1 year ago, following a lengthy period of education, learning various strategies, I settled on one or two that suited my temperament. I deposited more funds and started trading again at the beginning of 2023, this went quite well, and with profits on trades, I am now in a situation where my account balance is almost back to the 100% originally deposited. My question is, how do I deal with the situation with regard to, Income, CGT and Self Assessment. In order to clarify the numbers for reference (ie. not the real amounts) Initial deposit £1000 Balance after unsuccessful trading £100 Top up £300, new starting balance £400, at this point, £1300 deposited in total Balance after 12 months £1000, ie. £600 trading profits I am obviously looking to continue in this vein and generate future profits. Thanks in anticipation. Regards, Eddie
Posted Mon, 29 Jan 2024 12:40:08 GMT by HMRC Admin 19 Response
Hi,

You can see guidance here:

Capital Gains Tax: what you pay it on, rates and allowances

Thank you.

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