donaldduke Experienced member. Setting up a trading account for a Ltd with someone like IB is easy. First incorporate your company, costs between 50 and quid, if you doing a standard setup.

Speak to an accountant about how to allocate shares for best tax planning. you may or may not want to allocate some shares to your wife if you have one.

Once you setup the Ltd, open a bank account on the high street, under no circumstances mention to the bank that you plan to manage money for people, even in the future, tell the bank the comany only ever plan's to manage its own money or the money the shareholders loan to it.

Once you have the Ltd co bank account setup opening an account with someone like IB is easy. Ask the bank to send you a statement straight away as you will need it to open the trading account. As for PAYE, best to take most of your 'salary' as dividends. Saves having to hander over NICs. Last edited: Jun 7, One thing to bare in mind is you might get classed as a closed investment company, instead of a trading company.

Also so you wont be able to offset costs against tax. Ofcourse if you make more than K a year, you will pay that high rate corp tax even if you are trading company. Last edited: Jun 8, Rainmaker Active member.

Hi I have done this, with the help of a local accountant who has done my structuring. I don't want to advertise a particular firm here, so let me know if you want an introduction. Thanks Rainmaker, I have allready Incorporated and have a bank account.

One more reason for trading through LTD is that your mindset changes because now this is a real business. How do you know what class your company is? Well - that's not as easy as it should be and often comes down to what your local tax office says.

My accountant has a good relationship with them and has done the pleading and begging on my behalf. Good to be able to offset costs as well. Thanks Rainmaker, How do you know what class your company is? It is sometimes helpful, although not decisive, to ask whether a series of sales and purchases is speculative or not. The questions of why it is sometimes helpful is that the answer may throw light in one direction or the other, but it is not decisive because according to the circumstances either a trade or a course of investment may be speculative.

I guess if you want to manage other peoples money this is agreat way to show your performance. Also it demonstrates that you have a disiplined business approach. Has anyone been sucessful in moving on from the limited company and is trading a fund? donaldduke said:.

My plan is quite simple pay youself a very low paye salary let the profits build up. I know that spreadbetting seems to be the ideal choice but you cannot build a serious business with a spreadbetting firm. ER is 10m not 5m. I don't think you could spread bet through a limited company. If you're serious and have big money, it may be worth speaking to someone who can set up and administer an offshore trust through which you could manage the "pot".

Don't count on getting ER on this kind of business, as it won't work. Also, HMRC have enough grey matter to see through the deferred income idea. I have explored some of these with my accountant. Also, a company can spread bet, but will pay tax on the profits. I seriously suggest getting some good advice if you want to go down this route.

It was well worth it for me. BeginnerJoe Senior member. If you trade successfully, then there's no need to make a name for yourself because the name will make it all by itself assuming your wealth will continue to grow at an unusual rate.

If you are confident of your skills, I don't see the point of trading other people's money, and be answerable to them. As for track record, just move a few hundred mills of your winnings to your bank account, print out a statement and take it to the job interview. They should be plenty impressed with that track record. If not they will offer you a preferential rate so that you could trade through them. You will win whichever way it turns out.

Money is a very useful tool. So use it. You must log in or register to reply here. Similar threads S. Trading Forex in the United States. symbolensemble Sep 27, Forex. Replies 0 Views Sep 27, symbolensemble. Tennis trading. barneydunn Jul 21, General Trading Chat 2. Replies 20 Views 1K. Aug 12, ffsear. Why Do Most People Fail At Retail Trading? kazitanzib Sep 15, General Trading Chat. Sep 15, kazitanzib. Scam Alert - USDJPY Master Telegram Channel. Don't know how true a statement this is though, but might be worth looking into.

Originally posted by adestor View Post. Contractor Among Contractors. Maslins is NOT a disguised employee. Join Date: Sep Location: Tunbridge Wells Posts: Thanks Given : Thanks Received : Likes Given : Likes Received : Yeah this is the kind of thing I'm looking for clarification on. I think that's the case for spread betting and futures - not sure about FX though.

jetrimby has no reputation. Join Date: Jan Location: Near Bradford on Avon in Wiltshire Posts: 25 Thanks Given : 0 Thanks Received : 0 Likes Given : 0 Likes Received : 0. HI If done via spread betting then this is gambling as far as revenue is concerned Futures contracts are not gambling so are potentialy taxable. There are some odd rules here that, with exchange rates moving so much recently, have some very nasty effects someone with overseas property maybe paying gains tax despite having made no cash profit losses on foreign morgtages can't be offset I'd try a search in "moneysavingexpert" forums and I am sure you will find so threads covering this to some extent.

Sorry dont' know exact answer off top of head! Iron Condor. More time posting than coding. Iron Condor has no reputation. Join Date: Sep Posts: Thanks Given : 0 Thanks Received : 0 Likes Given : 0 Likes Received : 0. The company will only pay Corp Tax not CGT. A company that only does frequent short term FX trading is likely to be a trading company not an investment company so pay lower rate corp tax on first K of FX trading profits.

If the company mixes IT Contracting with FX trading then the FX profits are more likely to considered an investment. Spread betting in your own name is tax free unless you do weird things like run your own spread bet book with members of the public and use another spread bet firm to offset risk. In a personal brokerage account FX speculation will be most likey subject to CGT even if you do it short term. When short term trading in your own name and wanting to claim CGT, it is important to think of it and refer to it as 'speculation' and not as 'trading' if speculation is in fact what you are actually doing.

htm How much tax you pay end up being subject to is a lot like IR35, "if agreement cannot be reached, an issue for the Commissioners to decide. Last edited by Iron Condor ; 1 February , Bright Spark.

Fingers like lightning. Bright Spark has no reputation. Join Date: Feb Posts: Thanks Given : 0 Thanks Received : 0 Likes Given : 0 Likes Received : 0. last year I opened a spread bet account which is similar to fxcm forex account, main thing is you avoid all uk taxes. Nervous Newbie. fxjmcalster has no reputation. Join Date: Aug Posts: 1 Thanks Given : 0 Thanks Received : 0 Likes Given : 0 Likes Received : 0. My suggestion is to look for a broker which does not disclose tax data.

Register as an individual and start trading. When you apply for a corporate account, you must provide all the documents for the registered owners, board of directors, registration documents etc. along with a power of attorney for the representative.

In my opinion is too much of a hassle. William Smith FX Central Clearing Ltd Forex Trading Blog Forex Forex Trading Software Managed Forex Accounts.

Last edited by fxjmcalster ; 25 September , Contractor Services. Contractor Insurance Professional Indemnity Insurance IR35 Insurance Contractor Mortgages Free Banking Company Formation Debt Recovery Contractor Pensions Medical Cover Umbrella Companies Contractor Accountants IT Recruitment Agencies. CUK News. Autumn Statement 'wasn't the time or place for loan charge resolution' Today Contractors, has the umbrella company model sprung a leak?

Today Contractor companies scrutinise the bottom line in wake of Autumn Statement Yesterday Forget the dividends changes, the elephant in the room at Autumn Statement was corporation tax Yesterday Forget the dividend changes, the elephant in the room at Autumn Statement was corporation tax Yesterday Contractors 'won't let Autumn Statement's tax tail wag the dog,' despite IRdividend combo biting them hard Nov 18 Autumn Statement round-up for contractors Nov 17 Autumn Statement chancellor's full speech Nov 17 Autumn Statement Jeremy Hunt continues raid on limited company contractors by making dividends more taxing Nov 17 Autumn Statement Hunt continues raid on limited company contractors by making dividends more taxing Nov 17 Tag Cloud.

accountant agw boomed! contract contract advice expenses global warming guinea pigs hmrc ir35 limited company monday links mumsnet online tax the official doom training trigger warning umbrella wgas. Yes No. OK Cancel.

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To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy. Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £ Amazon vouchers! Forex trading through my LTD. Reply to Thread. Posts Latest Activity. All Time Today Last Week Last Month. All Discussions only Photos only Videos only Links only Polls only Events only.

Filtered by:. Jog On. Dirty spekulant. Jog On - scorchio! Join Date: Aug Location: Troll farm somewhere in Russia Posts: Thanks Given : 29 Thanks Received : Likes Given : 82 Likes Received : Forex trading through my LTD 29 January , Any advantages to doing this through the LTD as opposed to as an individual?

What are the liabilities - CGT, corp tax both? Just a basic overview would be nice Did I mention I'm looking for a new accountant as well? If that is the case then we have free speech. Tags: None. My post count is Majestic. northernladuk has reached the peak. Play again? Join Date: Mar Posts: Thanks Given : Thanks Received : 3, Likes Given : 3, Likes Received : 12, Originally posted by Jog On View Post. Reply With Quote. Comment Post Cancel. Originally posted by northernladuk View Post.

Tut tut. You are a long time poster, you should know better. Both these topics have been done to death plenty of times. The search button should come back with enough threads to keep you happy for hours.

If you want to invest I believe if you have to watch the limits. If you do over a certain rate depending on your income you will have to recatagorise your company as an investment company not an IT contracting one for a start so FRS will change etc.. its in all the other threads Still gathering requirements adestor has no reputation. Join Date: Aug Location: Landan Posts: 57 Thanks Given : 0 Thanks Received : 0 Likes Given : 0 Likes Received : 0.

I was talking about currency trading to a colleague the other day as an individual. He said that any money you make is tax free as it's looked upon as a form of gambling. Don't know how true a statement this is though, but might be worth looking into.

Originally posted by adestor View Post. Contractor Among Contractors. Maslins is NOT a disguised employee. Join Date: Sep Location: Tunbridge Wells Posts: Thanks Given : Thanks Received : Likes Given : Likes Received : Yeah this is the kind of thing I'm looking for clarification on.

I think that's the case for spread betting and futures - not sure about FX though. jetrimby has no reputation. Join Date: Jan Location: Near Bradford on Avon in Wiltshire Posts: 25 Thanks Given : 0 Thanks Received : 0 Likes Given : 0 Likes Received : 0.

HI If done via spread betting then this is gambling as far as revenue is concerned Futures contracts are not gambling so are potentialy taxable. There are some odd rules here that, with exchange rates moving so much recently, have some very nasty effects someone with overseas property maybe paying gains tax despite having made no cash profit losses on foreign morgtages can't be offset I'd try a search in "moneysavingexpert" forums and I am sure you will find so threads covering this to some extent.

Sorry dont' know exact answer off top of head! Iron Condor. More time posting than coding. Iron Condor has no reputation. Join Date: Sep Posts: Thanks Given : 0 Thanks Received : 0 Likes Given : 0 Likes Received : 0. The company will only pay Corp Tax not CGT. A company that only does frequent short term FX trading is likely to be a trading company not an investment company so pay lower rate corp tax on first K of FX trading profits.

If the company mixes IT Contracting with FX trading then the FX profits are more likely to considered an investment. Spread betting in your own name is tax free unless you do weird things like run your own spread bet book with members of the public and use another spread bet firm to offset risk. In a personal brokerage account FX speculation will be most likey subject to CGT even if you do it short term.

When short term trading in your own name and wanting to claim CGT, it is important to think of it and refer to it as 'speculation' and not as 'trading' if speculation is in fact what you are actually doing. htm How much tax you pay end up being subject to is a lot like IR35, "if agreement cannot be reached, an issue for the Commissioners to decide.

Last edited by Iron Condor ; 1 February , Bright Spark. Fingers like lightning. Bright Spark has no reputation.

Join Date: Feb Posts: Thanks Given : 0 Thanks Received : 0 Likes Given : 0 Likes Received : 0. last year I opened a spread bet account which is similar to fxcm forex account, main thing is you avoid all uk taxes. Nervous Newbie. fxjmcalster has no reputation. Join Date: Aug Posts: 1 Thanks Given : 0 Thanks Received : 0 Likes Given : 0 Likes Received : 0. My suggestion is to look for a broker which does not disclose tax data.

Register as an individual and start trading. When you apply for a corporate account, you must provide all the documents for the registered owners, board of directors, registration documents etc. along with a power of attorney for the representative. In my opinion is too much of a hassle. William Smith FX Central Clearing Ltd Forex Trading Blog Forex Forex Trading Software Managed Forex Accounts. Last edited by fxjmcalster ; 25 September , Contractor Services.

Contractor Insurance Professional Indemnity Insurance IR35 Insurance Contractor Mortgages Free Banking Company Formation Debt Recovery Contractor Pensions Medical Cover Umbrella Companies Contractor Accountants IT Recruitment Agencies. CUK News. Autumn Statement 'wasn't the time or place for loan charge resolution' Today Contractors, has the umbrella company model sprung a leak? Today Contractor companies scrutinise the bottom line in wake of Autumn Statement Yesterday Forget the dividends changes, the elephant in the room at Autumn Statement was corporation tax Yesterday Forget the dividend changes, the elephant in the room at Autumn Statement was corporation tax Yesterday Contractors 'won't let Autumn Statement's tax tail wag the dog,' despite IRdividend combo biting them hard Nov 18 Autumn Statement round-up for contractors Nov 17 Autumn Statement chancellor's full speech Nov 17 Autumn Statement Jeremy Hunt continues raid on limited company contractors by making dividends more taxing Nov 17 Autumn Statement Hunt continues raid on limited company contractors by making dividends more taxing Nov 17 Tag Cloud.

accountant agw boomed! contract contract advice expenses global warming guinea pigs hmrc ir35 limited company monday links mumsnet online tax the official doom training trigger warning umbrella wgas. Yes No. OK Cancel.

Also, a company can spread bet, but will pay tax on the profits. Hi I have done this, with the help of a local accountant who has done my structuring. As the forex prop firm industry has grown, so has the amount of prop firms offering funding for traders. I've Disabled AdBlock No Thanks. Tha corporation tax is basically the same as personal tax. Instead of setting up a limited company, a lot of traders in the UK look to spread betting instead.

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