They don't with me. And i doubt they do with anyone else. It's not in their interest do this. Since most people lose trading, losers could offset their losses with income from employment and pay no income tax!!
Open a spread betting account and its tax free. Options and other things in there to bet on as well as "bet" on stock price movements such as house prices, election results etc. Reason its tax free though is because most people fcuk it up and the UK government dont want you to be able to write it off against other investment gains.
Used to have an accountant looooong ago...no need for him now. He's one of my neighbours actually...so do have a chat with him now and then.
Hi , I m planning to trade with a CFD broker ( plus 500 ). i have a full time job so it would be a speculative hobby trades would be options and positions would be held less then a month. numbers of trade would vary form 10 to 50 ish /monthly. CFD trades are classified just like shares right? As long as i dont reach the annual CG Allowance which is a fat £ 11000, shall i bother with any tax return ? thx
Is the bread and breakfast rules apply on CFD trading ?. if i buy and sell contracts shall i wait 30 days to re-buy or sell the same underlying ?
No! They're absolutely not "classified just like shares" - and for very good reasons. This thread (even the earlier part of it, from 2015) illustrates - as they always do - the importance of taking advice from an accountant who's licensed and qualified to give it, and not depending on advice, however well-intentioned it is, from strangers in a forum.
Take a look at www.traderstaxclub.co.uk not free but should answer all your questions a lot cheaper than talking to an accountant.
thx to pointing out for that Xela and Just21 . Regarding of the bread and breakfast the scalping would be non existing in the industry if we would not be able to buy and re sell the same shares or underlying within 30 days, i dont know how does it work in case of CFD-s. any knowledge on that part ? many thx