RE: Results day28 Jul 2024 18:42
Hi Simpiles,
I'm back to answer that post of yours in regards as AI for working out data from the daily trades.
Anyhow, there's a person in the UK that's doing exactly that and making themselves billions every year without a fail according to what is posted here on the FT paper few days ago. He's one of the UK highest tax payers.
[Billionaire trader Alex Gerko loses UK tax appeal]
Founder of XTX Markets fails in challenge against HMRC treatment of deferred payment plan.
Alex Gerko, the billionaire founder of British trading firm XTX Markets, has lost a legal appeal over the taxation of a deferred payment plan in the latest such case to go against a trading house.
Gerko, the UK’s biggest individual taxpayer, had challenged HM Revenue & Customs’ position on deferred trading profits he and other traders made while working for hedge fund GSA Capital between 2010 and 2015.
Gerko is the UK’s top taxpayer, according to the Sunday Times tax list, having paid £664mn last year and £487.4mn in 2022.
“The amounts involved are small compared to the billions of pounds in tax I have paid, and been happy to pay, over the years,” Gerko said.
He left GSA Capital in 2015 to build XTX Markets, which has grown to become one of the world’s biggest trading houses, handling $250bn worth of trades daily across stock, bond, currency and commodities markets, and competing fiercely with the likes of Ken Griffin’s Citadel Securities.
https://archive.ph/2024.07.23-051630/https://www.ft.com/content/c93f0d47-7ba0-4ad6-92fb-9256598a4082