My client has introduced funds to the business that are a mix of profit from spread betting and commission from giving tips on spread betting to his friends, is this taxable?

Spread betting is subject to the regulatory requirements imposed by the Financial Services and Markets Act 2000 and involves betting on the outcome of an event based on a points spread.

Gamblers can buy at the top or sell at the bottom of the spread, with winnings or losses calculated by multiplying the unit staked by the difference between the actual result and the buying or selling price.

The activity does attract, under certain circumstances, general betting duty, which is a separate subject, but what about income tax?