Spread Betting In The UK Is Tax Free


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Spread betting at sites such as BetOnMarkets is becoming more and more popular for investors who are looking to profit from the various world trading markets. However, like most other forms of investment, spread betting and betting in general is taxable in many countries and jurisdictions but thanks to a law change in 2001, spread betting in the UK is tax free.

For generations, gamblers in the UK had to pay a levy on either their stakes or their winnings but on the 6th October 2001 the then government abolished all taxes on betting. This led to an increase in all forms of gambling, especially financial betting, which instantly become more favourable to traders than traditional investment methods that carried tax levies.

With the advent of the internet and online spread betting and trading sites like BetOnMarkets, many new investors were able to try their hand at speculating the future fortunes of the world’s leading markets but Forex traders and share traders alike fell victim to the clutches of the taxman here in the UK, something that spread bettors didn’t need to worry about.

This tax free haven for betting has led to a massive increase in UK spread betting and UK gambling as a whole. This is unsurprising, as spread betting can be a stable and relatively safe investment method and due to the tax free status it holds, actually making a decent profit is easier than ever.

To find out more about spread betting or to open an account with one of the internet’s leading financial betting sites, visit www.betonmarkets.com.