Jump to content

Tax implications for the new US options and futures account (for a UK resident)

Recommended Posts

Hey IG,

I cannot find much information about if trades on the leveraged or cash account would fall under CGT in the UK.

I assume that trades in the cash account would have CGT, while the leveraged one won't, but I would like to know for sure!


  • Like 2
Link to comment

@HydroBoy, not financial or legal advice, cash account and CFD fall under CGT (futures and CFD allow offsetting incidental costs (overnight/funding) against profit/losses), spread betting usually is not taxed, one cannot offset CGT against spread betting PnL and vice versa.

Edited by neueneuen
Link to comment

The new options/futures acct is not classed as spread betting, so profits above  the tax free allowance of £3000 will be liable to cgt regardless of whether the acct is margin or cash

  • Like 3
Link to comment




The £3000 allowance is here Capital Gains Tax: what you pay it on, rates and allowances: Capital Gains Tax allowances - GOV.UK (www.gov.uk)

I haven't a link re the options acct not having tax free status , but my reasoning is -

1. Its not in an ISA (which would be tax free)

2. It's not in a SIPP , which would be tax free until withdrawn as pension income

3.  On the IG website it is separate from the spreadbetting acct ,ISA etc

$. I spoke to someone at IG about the acct and told them how disappointing it was that it wasn't classed as spreadbetting







  • Like 2
Link to comment

Reading the product description with a bit more detail, it looks like the margin account allows covered options. And looking at some of the videos that IG has posted on youtube it seems one can also buy/sell shares.

I hope to have my account opened soon so I can investigate a bit more.

Link to comment

Yes, you will be able to buy us stocks and sell covered calls etc, I forgot to mention I have had a tastytrade acct for years, opened directly with them of course , instead of linked to IG as you are doing now!

  • Like 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Hi    when I try to buy the tickers SDIV and KBWD the platform does not allow me. This is strange as I have a broker account in France where I can easily buy these products. the MIFID retail legislation is related to CFD and margin, hence the reason must be different, can anybody help me?   Thanks
    • BOOM UP is the ultimate Game-Fi experience on Telegram, offering gamers a chance to earn real profits while immersing themselves in thrilling gameplay, unique art, and social interactions. Say goodbye to time-consuming games and hello to a world where fun meets profitability! By blending traditional gaming with the power of blockchain, BOOM UP is revolutionizing the industry and bridging the gap between Web2 and Web3. Get ready to dive into the future of gaming and experience a whole new level of excitement and rewards! Exciting news – BOOM UP is about to launch on Bitget, taking the crypto world by storm. Don't miss out on the chance to be a part of this groundbreaking project that's set to redefine the gaming and finance landscape. Get ready to level up with BOOM UP on on this exchange and unlock endless possibilities in the world of Game-Fi and NFTs!
    • As crypto adoption explodes in the EU, Bitget is fueling the flames with Builders Meetups – engaging events designed for both crypto veterans and newbies. Imagine learning from the Bitget EU COO Apprentice and crypto bigwigs, then building your network with fellow enthusiasts (potential friends or collaborators!). Plus, expert talks will boost your crypto IQ and there might even be free swag! Bitget goes beyond exchange, fostering the community through educational resources on Bitget Academy and a user-friendly platform that welcomes newcomers to the exciting world of crypto. The "Meet Bitget: Your Gateway to Crypto Trading" event in Bucharest, Romania on July 18th is your chance to dive in – registration is free! Don't miss out and spread the word.
  • Create New...