Hello everyone, I recently started trading derivatives, specifically US commodity options here in the UK. Fortunately I've made some modest gains and I plan on getting out while I'm ahead.
As I do that, I was looking for clarification on the taxation that would be applicable on my profits. Since I'm not well versed with the tax regime, I looked online and saw that the capital gains tax is 20% and the income tax slabs range from 20% to 45%. So my query was that would my profits attract capital gains tax or income tax? Or some combination which I'm not aware of?
Submitted June 12, 2021 at 12:31AM by Russian_Doctor https://ift.tt/3wjCQbZ
