Yatin Sardana
Joined: 11/11/2022
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Tax on spread betting
Hi I am a full time worker in the NHS. I also spread bet on the side. I have done some research around this topic and have read BIM22019, BIM22020 and other articles - it appears spread betting is classed as betting/gambling. I have a main source of income. My questions are: 1) Are my gains from spread betting taxable? 2) Do I have to declare them? 3) Who decided and at what stage is it decided if it is taxable? 4) If taxable, is it on income tax or CGT