FAQ for Tax in the United Kingdom This post is about taxes on investments as they affect those of us subject to UK tax and using Trading 212. The previous UK tax year ended, 5 April 2024. Today (8 April 24) I have updated this post with data for taxes on dividends and capital gains in the year 6 …

You will owe the tax rate applicable to bank interest. It is not dividends.

[image] Richard.W: You will need to if you have dividend income above £1,000, or have made capital gains net of losses in excess of £6,0000, or have gains before losses in excess of 4 times that amount (£24,000), or losses to carry forward losses. Hi Richard, great post as always. I was havi…

Thank you for spotting that point.

Hi, I don’t seem to find a clear answer anywhere on my question. I’m using T212 Cash interest on my Invest account. Currently, my interest earned are below 1000gbp but if theY were going above 1000gbp, does T212 send my interests earned directly to HRMC or will I need to do a self assesment return…

Trading 212 is not involved in paying taxes. If you accrue interest exceeding £1000, I think HMRC is informed about the interest and will let you know. As I read on their web pages, it is only with savings and investment earnings above £10000 that you must be proactive in completing Self Assessment. …

Thanks Richard. Yes indeed, you need to do self assesment when interest earned are above 10000gbp.

[image] Richard.W: Is the Trading 212 ISA flexible? No This needs an update since it seem it is flexible now! source: Is ISA flexible or not? - #18 by Momchil.G

Hi all. Regarding tax-efficiency of Acc vs Dist ETFs, I’m not seeking financial advice and I understand that taxes are complex and depend on individual circumstances. All I’m trying to do here is run a hypothetical scenario by the experts here to make sure I’m getting it right. For that, I use the…

There have been some past years in which VUSA also has ERI. The fact that an ETF is distributing does not guarantee it has no ERI. One should check.

That’s true, @Richard.W . I haven’t clarified that, but in the calculations, it’s actually dividends + ERI (which happens to be zero). Also, if the ETFs are from different providers, it’s always good to run the numbers and decide. But what I can say is that the income reporting for distributed versi…

FAQ for Tax in the United Kingdom

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hurma May 27, 2024, 10:53pm 111

This needs an update since it seem it is flexible now!
source: Is ISA flexible or not? - #18 by Momchil.G

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FAQ for Tax in the United Kingdom

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