I live in UK and I see that there are 2 taxes when trading:
- CGT to be paid on capital gain and is 18% or 28% depending if you are basic tax payer or not
- income tax on any interest or dividend received
But what happens if I trade options and futures? Please not that I'm not referring to binary options or spread betting that are exempt but to those contracts that are listed on exchange (i.e. the Eurostoxx futures and options that are exchanged on the Eurex market).
If I generate a profit when trading these contracts what is the the tax that has to be paid? Is it CGT or income tax? Or something else?
I can't find a clear explanation of this on the HMRC website.