Well, simply put; do you need to pay tax on profits earned trading forex if you’re in the UK, and at what percentage, and what amount?
It isn’t really a case of ‘of course’, as spread better’s don’t.
What makes me question it is the following:

- Any foreign currency held for your own or your family’s personal use outside the UK (for example, if you’ve made a gain because of a change to the exchange rate).

Petrusclavas: No wonder HMRC gets bad press, if you are to be regarded as a typical Officer. The training standards must have slipped since I did mine all those years ago. You just embarrass yourself with some of your attempts.

Where in a set of accounts will you see bank and cash? Definitely not in the trading account. You will see them in the balance sheet under assets. This is because a bank account and cash are capital asset. What does that tell you about any gain that may arise on those assets? A "capital" gain, perhaps?

In answer to the questioner, it is unlikely that you are trading. You are buying an asset that you hope will realise a gain, the same as you would buy stocks and shares (which also are capital assets). Any profits (gains) you make in a year may give rise to capital gains tax.