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Does trading has negative impact on ILR application
Posted: Thu Nov 23, 2017 5:04 pm
by dheeraj1025
Hi All,
I am planning to trade on cryptocurrency. I want to do a long-term investment. Trading apps and companies are requesting my national insurance.
Is this going to have any negative impact on my Leave to remain application which I am going to apply early next year?
Re: Does trading has negative impact on PR application
Posted: Thu Nov 23, 2017 5:16 pm
by CR001
It would be useful if you stated that you are a Tier 2 General migrant.
Re: Does trading has negative impact on PR application
Posted: Thu Nov 23, 2017 6:15 pm
by dheeraj1025
Yes, i am a Tier 2 General immigrant.
Re: Does trading has negative impact on PR application
Posted: Fri Nov 24, 2017 6:40 pm
by dheeraj1025
Any suggestions would be appreciated.
Regards
Dheeraj
Re: Does trading has negative impact on PR application
Posted: Fri Nov 24, 2017 6:53 pm
by makky86
dheeraj1025 wrote: ↑Thu Nov 23, 2017 5:04 pm
Hi All,
I am planning to trade on cryptocurrency. I want to do a long-term investment. Trading apps and companies are requesting my national insurance.
Is this going to have any negative impact on my Leave to remain application which I am going to apply early next year?
As far as I know if you trade then you will have to pay tax on the profits. This might create issues when you apply for the ILR. I suggest don't do anything which may create issues later on.
Re: Does trading has negative impact on PR application
Posted: Sat Nov 25, 2017 1:11 am
by Echoes
makky86 wrote: ↑Fri Nov 24, 2017 6:53 pm
As far as I know if you trade then you will have to pay tax on the profits. This might create issues when you apply for the ILR. I suggest don't do anything which may create issues later on.
Depends on type of trading. Spread betting is tax free in the UK. CFDs are not.
Re: Does trading has negative impact on ILR application
Posted: Sat Nov 25, 2017 2:37 am
by zimba
dheeraj1025 wrote: ↑Thu Nov 23, 2017 5:04 pm
Hi All,
I am planning to trade on cryptocurrency. I want to do a long-term investment. Trading apps and companies are requesting my national insurance.
Is this going to have any negative impact on my Leave to remain application which I am going to apply early next year?
Investing your money in such ventures has nothing to do with Tier 2 rules.
Cryptocurrency in general is not regulated in the UK yet. However If you make some gains, then that would require you to declare capital gains via self assessment and pay any required taxes
Re: Does trading has negative impact on ILR application
Posted: Sat Nov 25, 2017 6:29 am
by mulderpf
Do you intend on trading or investing? Specifically on the CFD route, trading could be viewed as a form of self-employment. Investing is just an investment.