Is share dealing in LSE considered as economic activity

soulfullness · Post by **soulfullness** » Sun Jun 21, 2009 11:30 am

Hi All

Is sharedealing in London Stock Exchange considered as an economic activity and also self employment for ILR ? As I am unemployed I do this as self employed business. Can you advise ?
Thank you all

manishmittal · Post by **manishmittal** » Sat Jun 27, 2009 9:18 pm

soulfullness wrote:Hi All

Is sharedealing in London Stock Exchange considered as an economic activity and also self employment for ILR ? As I am unemployed I do this as self employed business. Can you advise ?
Thank you all

Yes.

Post by **push** » Sat Jun 27, 2009 9:53 pm

soulfullness wrote:Hi All

Is sharedealing in London Stock Exchange considered as an economic activity and also self employment for ILR ? As I am unemployed I do this as self employed business. Can you advise ?
Thank you all

Only if undertaken as a full time engagement and not as part of routine investment process

soulfullness · Post by **soulfullness** » Tue Jun 30, 2009 10:18 am

Hi push_hsmp and manishmittal

Thank you for some light on this. How one can prove that he is full time investing in LSE. As far as I am concerned I do this dealing at least daily depending the up and down of the market. Further my dealing is within the ISA account mostly. I have all the dealing in LSE as e-mail message from the dealing bank.
Thank you again

Post by **push** » Tue Jun 30, 2009 9:59 pm

soulfullness wrote:Hi push_hsmp and manishmittal

Thank you for some light on this. How one can prove that he is full time investing in LSE. As far as I am concerned I do this dealing at least daily depending the up and down of the market. Further my dealing is within the ISA account mostly. I have all the dealing in LSE as e-mail message from the dealing bank.
Thank you again

Are you self employed? registered as sole trader?

soulfullness · Post by **soulfullness** » Wed Jul 01, 2009 9:38 am

Hi push-hsmp

I am not registered as a self employed but do dealing in LSE in ISA account. So you think that I have to register as a self employed and as a trader to deal with LSE for ILR purpose . Pl give me some details on this.

Thank you

Post by **push** » Wed Jul 01, 2009 9:35 pm

soulfullness wrote:Hi push-hsmp

I am not registered as a self employed but do dealing in LSE in ISA account. So you think that I have to register as a self employed and as a trader to deal with LSE for ILR purpose . Pl give me some details on this.

Thank you

I guess you need to do so. Otherwise the onlything that differentiates you from someone who does not have trading as a full time activity but invests in stocks through ISA is just the frequency of trading.... hardly enough I think

Post by **John** » Thu Jul 02, 2009 8:35 am

You might be interested to read this extract from HMRC manuals and so understand just how difficult it is to make share dealing into a trade.

Here there is an added problem .... the shares are held in an ISA.

Accordingly soulfullness I think it is pretty clear that you are not self-employed in the capacity of a share dealer.

soulfullness · Post by **soulfullness** » Thu Jul 02, 2009 12:35 pm

Hi John

I understand now it is difficult to prove as a trader in LSE. However I would like to draw your attention to the application of ILR section 9.

1) for HSMPeon under JR 4 yrs and who comes under 5 years, one condition is to give documents for economic activity if they are employed.

However

2) for Tier 1, one condition is to give evidence to prove they are economically active.

I assume there is a different in these two conditions. One specifically ask for evidence but the other ask just to provide documents if you are employed only. In the latter case for hsmp under JR , it seems that whether we are employed or not, it may lead to settlement.

What do you think of this based on these two conditions?

Thank you

Post by **John** » Thu Jul 02, 2009 12:56 pm

In my mind "economically active" means either employed or self-employed. As you are neither employed nor self-employed, I cannot see how you are economically active.

soulfullness · Post by **soulfullness** » Fri Jul 03, 2009 9:32 am

Hi John

Yes I am not economically active at the moment though I am trying my best to get a job in any field but I was active when the economy of the country is active. How HO will decide the ILR when the whole country is facing unemployment problem due to global recession? I hope they will consider case by case why the person is unemployed and which sector the person was working when he was employed and also when he was unemployed etc.
Further more to my understanding HSMPeon under recent JR and comes under 4 and 5 years, they have to provide documents for economic activity if employed only and there is no minimum time period given for economic activity within the 4 year period.
Thank you all

Post by **John** » Fri Jul 03, 2009 9:45 am

Under HSMP the person has the option of being either employed or self-employed. By definition you are highly skilled, that is why you got your visa. So is it possible that you can use your skills as a self-employed person?

What are your particular skills?

Post by **ChetanOjha** » Fri Jul 03, 2009 9:53 am

Quote of the Day:

I was active when the economy of the country is active.

Good One...

Sushil-ACCA · Post by **Sushil-ACCA** » Fri Jul 03, 2009 10:08 am

open a company and route all transaction through it

it should then fine

Sushil-ACCA · Post by **Sushil-ACCA** » Fri Jul 03, 2009 10:09 am

then u will be running a finance company

very demanding profession

Post by **John** » Fri Jul 03, 2009 10:22 am

open a company and route all transaction through it

He can't. The shares are held in an ISA !

Post by **ChetanOjha** » Fri Jul 03, 2009 10:23 am

Just out of curiosity, can tell me how do you trade at LSE in ISA account? What exactly you do.

Post by **John** » Fri Jul 03, 2009 10:35 am

You would have the ISA with a company that provides you will share dealing possibilities. There are a number of companies in the market place that enable you to do that.

Post by **ChetanOjha** » Fri Jul 03, 2009 10:37 am

John wrote:You would have the ISA with a company that provides you will share dealing possibilities. There are a number of companies in the market place that enable you to do that.

This ISA means Instant Saving Account(ISA). Am i correct? I thought you can have ISA only with banks and then banks put your ISA in share dealing?

Post by **John** » Fri Jul 03, 2009 11:05 am

This ISA means Instant Saving Account(ISA). Am i correct?

Correct

I thought you can have ISA only with banks and then banks put your ISA in share dealing?

Not correct. The technical answer is that you can have an ISA with anyone who has been authorised by HMRC to be an ISA-provider. Yes the banks have been authorised, but so have a number of stockbrokers.

If you do a google.co.uk search on say .... self-select ISA .... you will get quite a few hits, As an example, and it is just an example .... I have not used them personally .... have a look at this webpage, which mentions a self-select ISA, and indeed also a SIPP .... self-invested personal pension .... and that company is clearly not a bank.

Post by **ChetanOjha** » Fri Jul 03, 2009 11:11 am

Thanks John. That is quite a new information for me. Never tried to get my head around it honestly.

jiffry130157 · Post by **jiffry130157** » Sat Jul 04, 2009 11:59 am

Hi John

Unfortunately my skill is in the worst affected sector in UK. That is residential property development. My CV is all over UK but it is difficult to get a job. Opening a company in that sector is a financial suicide in this recession period.

Thank you

Post by **John** » Sat Jul 04, 2009 12:21 pm

Unfortunately my skill is in the worst affected sector in UK. That is residential property development. My CV is all over UK but it is difficult to get a job. Opening a company in that sector is a financial suicide in this recession period.

You obviously know your job much better than me, but with so many developers in a distressed state, and with land values having fallen so far, isn't this the time to start building up a land bank for future development?

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Is share dealing in LSE considered as economic activity

Is share dealing in LSE considered as economic activity

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