§ Lord Kennet
asked Her Majesty's Government:
At what rate gains from currency speculation are taxed; how many employees of the Inland Revenue are occupied in this field; and how much revenue has been raised from such speculation in each year since the "Big Bang".128WA
The Earl of Caithness
There is no special rate of tax for gains from currency speculation. Gains from currency transactions entered into in the course of a trade form part of the trading profits assessable to income tax or corporation tax. Gains from non-trading currency transactions made by individuals are charged to capital gains tax and by companies to corporation tax. The additional information requested is not available.