Cost price doesn’t include UK stamp duty or FX charges. Is there a way to modify the cost/avg cost to reflect the correct cost of the share or a trade like other brokers. Currently it is not reflecting Stamp Duty or FX charges in the cost which resulted in the wrong return amount.
I think, and someone can tell me if I am wrong, but you need to exclude these when calculating capital gains(and subsequent taxes) for most countries.
I do agree, I prefer to record the full costs when I track my own performance, but I do this offline using the statements.
Hi @Dougal1984 Capital Gains or Loss does include Stamp Duty Reserve Tax (SDRT) and FX charges/fees of brokers.
This is a deductible cost and should be included in the purchase cost of the shares.
Tax when you sell shares: Work out your gain - GOV.UK (www.gov.uk)
HMRC is very clear and explicitly mentions about those costs. Need some clarification from Trade 212 representatives. I have used 7 different brokers so far and all of them include these costs in the cost/avg cost price. Probably Trade 212 is working on it but need some clarification from someone.
Thank you for the context, @jpnaik
Including the stamp duty & fx fee in the final cost price is not something we’re considering for the time being. But, I see how it could be beneficial, so I’ll run your proposal past the team to consider as part of future app improvements.
In the meantime, as @Dougal1984 mentions, a workaround is to get those variables by exporting a CSV file through the mobile/ web app.
Hi @B.E Thank you for your reply.
I hope you will consider this in the nearer future as all your big competitor does it including
I have used all of them and they put the cost inclusive of Stamp Duty Reserve Tax (SDRT) and FX charges/fees.