Hello Currently I live and work in France. Iam thinking of relocating to UK and get a job there. My incomes are not high but trading help me to raise it up. So I am wondering about the capital gain tax in UK. 1/ In France we have a 30% flat tax. No CGT allowance. If I understand it correctly in UK there is 0% tax on the first £11,300. And the remaining would be taxed 10%, 20% or a mix of both depending of the level of my capital gains and my other incomes. Am I correct ? It sound really good in comparison with France ! 2/ As far as I know, if I stop working and just trade for a living here in France I will quickly be pushed to open a company in order to continue. And taxes will be high (I have heard it is up to 60%). How about UK ? What will happen to me if I lose my job and just trade for a living ? Thank you !
You can trade at a bucket shop tax free in the UK. It is called spread betting. www.ig.com See https://www.trade2win.com/threads/uk-tax-and-spread-betting.230466/
Spread betting is an option if you trade infrequently. The main downside with spread betting is the possibility of getting a much worse fill during a price spike compared to what you might of got in the real market. eg: https://www.euromoney.com/article/b...-poster-child-ig-in-the-line-of-fire-post-snb
With regards to your second question. Tax regulation is complex and I have no definite answer. However, it is my impression that in most countries the distinction between capital gains tax and being taxed as a business does not depend primarily on whether you have a job or not. Usually factors such as volume of trade, frequency, education and whether you have worked in the financial industry are more important.
It has been a long time since i read the tax manuals at HMRC. But from what i recall if you are directional trading then it will be capital gains, but if your profits came more from a market making style of trading then they could be classed as income tax.