Just had a quick look through the online tax return thing and I noticed the exceptions section. Sounds as if they are saying that stock buy and sell commissions can be filed as an expense - that can't be right can it? Gonna ask the IR anyway to be sure, although knowing them they'll probably tell me to talk to an accountant. Which kind of defeats the idea of doing the return by myself.
Question about capital gains tax and stock commissions
Oct 07, 2008
4 Replies
exceptions section.
as an expense -
Buy commission is an expense of purchase and sell commission reduces the disposal price. Why shouldn't it be?
exceptions section.
as an expense -
My idiot old accountant never told me about this - over the years I must have made about 1000 trades which I never claimed the commissions for.
I am not happy.
messagenews: snipped-for-privacy@k7g2000hsd.googlegroups.com...
exceptions section.
filed as an expense -
knowing them
made about 1000
What were your biggest gains in a tax year?
Gonna ask the IR anyway to be sure, although knowing them
I think you'll find that the IR (or HMRC as it now is) is very helpful. Not like the old days, when I would have agreed with you.
Rob Graham
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