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Etoro CFD questions

TabbyLongTails · 2024-04-17 03:43:37

many many years ago I used etoro to invest in something, which under the hood was a CFD An accountant many years ago told me that CFDs are considered gambling as you don’t own the actual asset, and because of this it wouldn’t fall under CGT. However I’m now unsure if this is true. 1. Is this true? (If not, was it ever true…

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17-04-2024 4:43am

#1

TabbyLongTails

Registered Users Posts: 37 ✭

Join Date: September 2023

Posts: 33

many many years ago I used etoro to invest in something, which under the hood was a CFD

An accountant many years ago told me that CFDs are considered gambling as you don’t own the actual asset, and because of this it wouldn’t fall under CGT. However I’m now unsure if this is true.

1. Is this true? (If not, was it ever true years ago???)
2. Does it have any impact in regards to tax if you used leverage? Eg x2 leverage

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#2 18-04-2024 7:45pm
TabbyLongTails

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slight bump

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#3 28-04-2024 12:08pm
the O Reilly connection

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I don't think it's true. You are liable to CGT on any income from etoro.

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#4 29-04-2024 7:28pm
taratee

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You are going to have to pay CGT on CFDs. If you spread betting you will not have to pay tax.

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