Feb 3, 2014

Posted by in Online Schemes | Comments Off

How to Earn a Tax Free Income Online

Earn a Tax Free Income Online TodayDoes a tax free income online sound too good to be true? It usually is, but not this time…

It is possible to earn a tax free income online in the UK thanks to a ‘bit of a loophole’ in the system concerning binary trading. Although binary trading is regulated in the UK, it is, at the present time, still falling under the ‘gaming’ classification. This means that profits gained from the binary trading system are classed as winnings and are, as such, exempt from income tax.

Notice I say ‘at the present time’? Already there is big ‘talk’ in the UK about the change of classification for binary trading. There has never been a better time to get your account off the ground and maximise your chances of earning a tax free income online. Of course, this information is correct at the time of writing, but it is always recommended that you seek the advice of a professional tax advisor or accountant to clarify your personal circumstances. It is also worth remembering that you will be liable for income tax upon the interest that your profits make if you stow them in your bank account.

Many people are attracted to UK-based binary trading platforms. The UK has a strong system of regulation and this can encourage traders to feel safe when looking at UK services. Although I would agree with that in the main, it must never be taken for granted that the platform is regulated just because it says so. Always check!

Bear in mind that you are bound by the taxation rules of your home country and it is your duty to declare your income. The lure of a tax free income online is strong – I know – there is not a lot that is tax free these days!