Hi,
Do you guys think trading will ever be taxed?
And for anyone making money doing it, would you be angry if you had to pay taxes or do you think it would be fair to get taxed?
tax
So Kelpie do you think a large number of ordinary people like us are going to start trading, or is companys like bookmakers, banks etc going to start investing money in sport trading?kelpie wrote:The more succesful traders there are the more the government will tax them.
Inevitable.
Right now, the only reason trading is untaxed is because few are profiting.
It's to do with double taxtion. Betfair charge (rather ludicrous) amounts which they then pay tax to HRMC. Overall customers lose so to only tax those that win doesn't work, else those that lose would get tax relief. Tax relief on gambling losses would be an interesting side side effect on the attempt to tax gamblers.
So your saying it wouldn't be worth while for the HRMC to tax trading, i.e they wouldn't make any income?Euler wrote:It's to do with double taxtion. Betfair charge (rather ludicrous) amounts which they then pay tax to HRMC. Overall customers lose so to only tax those that win doesn't work, else those that lose would get tax relief. Tax relief on gambling losses would be an interesting side side effect on the attempt to tax gamblers.
There are already funds that trade sports markets.marko236 wrote:So Kelpie do you think a large number of ordinary people like us are going to start trading, or is companys like bookmakers, banks etc going to start investing money in sport trading?
However, I doubt they deliver p&l above industry.
Markets logically and frustratingly restrict profits to the few and inflict losses on the majority. Sports funds aint different.