Billionaire trader Alex Gerko loses tax appeal at UK Supreme Court The UK’s top court has ruled that individuals trading financial instruments can be liable for income tax on their share of trading profits. This decision stems from an appeal by billionaire trader Alex Gerko, who sought to classify his trading profits as capital gains rather than income. The Supreme Court’s verdict upholds the principle that such profits should be treated as taxable income, impacting how traders handle their earnings.

• 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. Continue reading https://www.ft.com/content/0d8cb50c-f17f-4af6-a5eb-e1f4206e3e96