I was checking it out today
@Mike B
I have previously done it as you desrcibed,
Profit = Capital gain, less expenses = Net Capital gain, pay 50%.
But after checking it out today not so sure.
Basically ( privately / non company ) you are either an " Investor "
or a " Share trader ".
Different definitions but basically Investor low number of trades,
goal is dividend / income orientated.
Share Trader high volume with goal to make profit from increase
in stock price, buy / sell trading.
So therefore depending where you class yourself,
you either go down the CGT road as an Investor,
or if eligable as a Share Trader you have a profit / loss
as it is effectivaly classed as running a business.
So my understanding was as a Share Trader the profit / loss would
be added / subtracted from your income tax? PAYE?
I'm still looking into it all,
but what from I've seen since most of us trade to make net profit
from share price we would mostly be Share Traders for tax purposes.
I think I might need an accountant this year
Off to the " Tax and Taxation " Thread
