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Spread betting and UK tax


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Hi all , 

 

Been trading for the last 7 years but decided to switch to spread betting as seems to have a more preferred tax treatment. I wanted to ask if all instruments  in the spread betting IG account are classed as spread bets. I personally don't want to trade any CFD by mistake. Just wanted to know if I select the IG spead betting account I am covered from a tax perspective as a retail trader and can trade anything offered there from share  to commodities and FX.

I know the question may be silly .I just can't figure out what is classified as spread bet from a tax perspective.

Appreciate any help with this,

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Hi 

I am fairly seasoned (20+ years) - but probably don't know  all the ins and outs ). 1) Maxed out ISA allowance every year - worked ok for shares. Using IG for shares and ISA and spread bets. In SS I have traded DOW/Tesla indexes OK - but currently on BTC - Only thing to be aware of is some highish interest charges on products (like cryptos - which become pro only from 6th Jan 2021)  (only recently increased I believe) - but taking everything into account no problems. Also dabbled in CFD but abandoned with flexibility of SS. Been IG customer for approx 4 years and many years using other providers - but favour IG overall for ease of use. Sorry I am not quoting EXACT interest charges - but it will be different for each product. Just watch out for spread widenings near end of day.

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