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John Bleke
Posted: 17 May 2024 16:54:18(UTC)
#1

Joined: 06/03/2023(UTC)
Posts: 246
Hi,

I have a trading account at Interactive investor along with ISA/SIPP. I like to use the trading account just to dabble in shares. My question is that if make capital gains of more than £3k then do I have to declare them but how can you possibly work out the gains to declare if so?

TIA


John
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D Bergman
Posted: 17 May 2024 18:30:58(UTC)
#2

Joined: 22/03/2018(UTC)
Posts: 1,308

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John Bleke;306123 wrote:
Hi,

I have a trading account at Interactive investor along with ISA/SIPP. I like to use the trading account just to dabble in shares. My question is that if make capital gains of more than £3k then do I have to declare them but how can you possibly work out the gains to declare if so?

TIA


John


You need to account for sales of assets totalling more than £50,000 even if you have not exceeded the CGT allowance.
Basically, keep a spreadsheet of purchase and sale prices, so you can total the all the sales and gains.

It’s really not difficult as long as you remember to fill in the details whenever you buy and sell shares.
Obviously losses can be set against gains.

I would suggest looking up capital gains tax in www.gov.uk
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John Bleke on 19/05/2024(UTC)
Neminem Laedit
Posted: 17 May 2024 18:59:52(UTC)
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Joined: 17/09/2018(UTC)
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It's a nightmare.

Either don't trade, or, if possible, use spread-betting instead.

Or learn the CGT rules, and make your own spreadsheet calculator.

There is a proper CGT calculator here but be warned, it isn't a doddle.

http://www.cgtcalculator.com/
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John Bleke on 19/05/2024(UTC)
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