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UK and Foreign currency interest from a UK broker
My UK based broker pays credit interest on uninvested balances in both the UK and the foreign currencies. The broker claimed the "Client money is held at banks both within and outside of the UK" and i am not sure which currencies/portion of my balance kept in UK banks or oversea banks. I'd searched the previous threads for those people got the same issue i.e. people who got the "Foreign currency interest from a UK broker" but there is no straight answer for us to report these interests through SA100 or SA106 ?? Many thanks in advance. -
US stock options trading -- CGT vs income tax
I am not a US resident/tax resident, neither an employee or employer of the US company. I am now get very confused in response to tax assessment for trading the US Stock options/underlying stocks. Please also advise me that the money gain subject to either "income tax" or "CGT for these scenarios in a stock / option tradings Case 1) I bought a US stock call option (say GBP10) but i didn't exercise my option right sell it on/before the end of contract, i had realized the net gain(say sold at GBP11.5) /loss(say sold at GBP 9) (i.e. selling price - buying price= GBP1.5 net gain/GBP1 net loss ) In some cases, the option will turn to ZERO value at the end date of contract. In this case, no real stock buying/selling was involved that only subject to CGT ? Case 2) Similar to Case 1, I bought a US stock put option (say GBP10) but i didn't exercise my option right sell it on/before the end of contract, i had realized the net gain(say sold at GBP11.5) /loss(say sold at GBP 9) (i.e. selling price - buying price= GBP1.5 net gain/GBP1 net loss ). In one case, the stock option for the underlying stock is now dropped to a certain level that I have to exercise the option right in hand, therefore, the stock option will turn to ZERO value( will offset the gain in CGT?), the stock I have to sell will subjuct to CGT , is that right ? Case 3) Similarly, I sold out a stock option at GBP10 and generate the money an income then waiting till the end of the contract. However, a) the option buyer exercise the option right that I have to use my own money to buy this underlying stock at GBP100 as the agreed price. Then I sold out the stock at the market and realized gain (say sold at GBP 115) or loss (say sold at GBP90). b) the option buyer exercise the option right that I have sold my stock in hand at the agreed price GBP 100. However, I realized the net gain/loss depends on the original price for the stock i bought in. So, the above realized gain or loss would subject to CGT but not income tax?? Many thanks in advance.