. Our Chancellor had to increase tax and lower spending to bring our budget deficit under control. One the tax increase that traders would have noticed was capital gains tax.
This will hit seasoned traders quite hard as they are likely to make profits well in excess of the threshold allowance. This is not something that concerns me too much as I do my trading through financial spread betting.
This is not the only advantage of financial spread betting. Another is one that you could've take advantage of yesterday's falling markets as well. The markets don't trade up all the time and yesterday was no exception. You could have taken a short position and taken advantage of the declines.
While the stock markets were falling there was another market that was rising. The currency market and the pound started to show some strength. If you had wanted to you could have closed your short position on the stock market and moved the money into the pound. With financial spread betting you can do all of that from the same account.
I know people who want to invest and want to trade but they complain about not having the start up capital. There is no disadvantage to trading small in financial spread betting. You don't pay commission so you can start trading from as little as a few hundred quid.
Just before you disappear and open an account please be aware that there are risks involved. Investments can fall in value and trading this way involves leverage so you can lose a lot of money.
I think yesterday really showed me why I like financial spread betting so much. It was clear to me that it holds many advantages over other trading.