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Thank you for clarifying, but this still does not answer my question. Is this classified as "self employed" so do I require a business tax account?
Or will a personal account do...
Hi, I am not trading. I do not use a trading platform and do not buy derivatives, CFD's etc with any leverage. I buy just stocks and hold 6-24 months or so then sell them.
This produces a capital gain and I use this to cover my living expenses.
I have a question around employment status. I left my job a couple years ago as I invested on the side and the income/return this has provided grew to a point where I can live off it full time.
My day to day mainly consists of monitoring the markets and managing my investments accordingly.
Does this make me self-employed? So I would need a business tax account?
I have always filed my previous returns under a personal tax account while I was employed and my investment income was just in addition to that under the additional income sources section/capital gains etc, however now my investment income is my only income.
Would just like to know how I should go about this.