economy
Billionaire trader Alex Gerko loses tax appeal at UK Supreme Court
Top court rules traders should pay income tax on share of trading profits
TL;DR
- UK Supreme Court rules that individuals trading financial instruments may have to pay income tax on their share of profits.
- Billionaire trader Alex Gerko lost his appeal to have trading profits classified as capital gains.
- The ruling implies that profits from trading activities could be subject to income tax rather than capital gains tax.