A UK tax on income. The Inland Revenue has however unfortunately left the rule regarding Income Tax on Spread Betting rather a grey area. Our best understanding is that profits are free of Income Tax if you can demonstrate you have another source of income on which you are able to support yourself – such as a salary or pension. If you rely solely on your profits from Spread Betting to live, you may have to pay Income Tax on those profits. If you are unsure of your tax position you should contact an accountant.