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LONDON
Posts: 1 since Mar 2019
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I'm started a limited business for self employment. One of the main reasons is to increase tax efficiency, among other contracting reasons, and am now reaching beyond the capital gains threshold. I am also aware the activity can be classed as trading, in which the change in taxation would impact compound interest.
I was planning to use the SIC code for trading on own account, 64991, for commodity and stock trading on own account, or holding account, 64209. I cannot find an SIC code specifically for foreign currency trading. The only other option I can identify is brokerage (that does not affect me) and Bureau de Change (I am not acting as an intermediary off foreign currency exchanges, and not relying on arbitrage or spread).
Does anyone know what financial class constitutes as currency trading for investment purposes?
Does anyone know what licenses the limited company may need to obtain to trade on its own account?
Would the SIC class 66110 be required for the creation of internal tools, given the company is classed under 62012?
Any guidance or help is much appreciate!
Thank in advance!
To those to ask about my accountant: Many I've spoken to or have been referenced don't have knowledge in financial market trading licenses and categorization unfortunately. If someone can point me in a better direction, it would be much appreciated.
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