Hi,
I have been algo trading on betfair for a few years (I pay the 40% Premium charge).
I would like to setup a limited company in the UK (I am a UK resident) for my trading.
I know the tax implication of trading via company - as I will end up paying tax on betting (which is not taxable in the UK when you trade in your name) - it will be a mix of corporate tax and income tax.
Should the betfair account be in the name of the company?
Or can I give a sub account to the company and keep the master account in my personal name?
Can anyone recommend some setup on how to do this? or some persons who has done it before? or accountants lawyers familiar with the topic?
Thanks
Jon
Betfair Master Account / Sub Account / Trading via UK Ltd /
Hi,
I am not aware of any individual going this route.(But that doesnt mean, there aren't any)
It might make sense, for a team of people, but, given the new stingency for sub-accounts, am not sure of that either.
Maybe u dont want to disucss this in an open forum etc (which I think would be wise), but, given the perceived tax benefits for trading in your own name, am not sure I understand why u would want to pay company tax etc.
I would direct the question to a premium account manager .. if u are paying PC, they should be willing to help .. the structure of the account, shouldnt affect what Bf make from u.
Gl
I am not aware of any individual going this route.(But that doesnt mean, there aren't any)
It might make sense, for a team of people, but, given the new stingency for sub-accounts, am not sure of that either.
Maybe u dont want to disucss this in an open forum etc (which I think would be wise), but, given the perceived tax benefits for trading in your own name, am not sure I understand why u would want to pay company tax etc.
I would direct the question to a premium account manager .. if u are paying PC, they should be willing to help .. the structure of the account, shouldnt affect what Bf make from u.
Gl
