Cost price doesn't include UK stamp duty or FX charges

đź’ˇ Feature suggestions & ideas
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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.

Regards
JPN

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2

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.

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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)

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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.

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Thank you for the context, @jpnaik :handshake:

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.

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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

Halifax,
AJ Bell,
Hargreaves Lansdown,
IG Market,
Interactive Brokers,
iWeb,
Fineco Bank,
Saxo Market.

I have used all of them and they put the cost inclusive of Stamp Duty Reserve Tax (SDRT) and FX charges/fees.

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7

I have recently started using Trading 212 and the best part is the Pie feature which comes into it’s own. However I too think the way the UK Stamp Duty is ignored when taking into account purchase costs is flawed and needs to be included when working out your (sales) return. The only way to get the true figure is to know how many funds you have deposited and work on this basis. This becomes tedious when bigger sums and various investment vehicles are involved. Please Trading 212 get this updated as soon as you can. I’m surprised this has not been resolved as it’s already a year ago this was brought to your attention.

Thank you.

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@BInvestHQ I think the term is TWRR or Time weighted rate of return, at least for performance return. Another simple way would be to take current value of portfolio + withdrawals less deposits to give you your all time unrealised + realised gain loss, inclusive of all fees.

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Thanks for that. Keeping track of any future withdrawals, when the time comes, needs to be kept recorded. I still wish Trading 212 will take into consideration UK Stamp Duty. I don’t understand why this has not been implemented? I also keep a spreadsheet running to keep track of individual funds invested with my other trading platform. I have not completely switched over to this platform as I like the fact that I receive a quoted price and I know what I’m getting before hitting the Buy/Sell button.

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