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Posted Thu, 10 Nov 2022 12:45:58 GMT by Gordon0323
Hello, I have some question about the tax of trading option. 1. I would like to ask if I open my position with a short put option and get the premium, then close my position after 6-9 months. What is the type of the tax should I pay? Income tax or capital gain tax? 2. I would like to ask do I need to pay tax again when I transfer those profit from foreign to UK? 3. Is there a standard fx rate that for doing the self-assessment? I know I need to declare those profit or loss in pounds but I am doing it with USD so is there any standard fx rate for the self-assessment? Thank you.
Posted Tue, 15 Nov 2022 11:56:36 GMT by HMRC Admin 32

Any profit would be a capital gain.

You can find further guidance here:

Shares and Capital Gains Tax (Self Assessment helpsheet HS284)

Thank you.

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