HMRC - capital gain tax

I have seen many people struggling about HMRC and Taxes on earning, I though it would help others perhaps : I spoke to my accountant here in London this week.
Basically you need to declare everything you earn or have !
212 Trading may or may not submit to the authorities. It is your job to do it yourself.
So if trading is your only job you will be taxed 10% of your earnings from which you can deduct £12500 (tax free allowance). If you have another job and you do trading on the side, you will be taxed 20% instead of 10%.
You will not be taxed on your initial investment, only the gains.
You can download your history in 212 Trading and have all details of your transactions which you can forward to your accountant which is what I did. For the tax year you must print your statement at the end of the day on the 05 April 2021 and have up to the end of January 2021 to submit it to HMRC.
If you have invested in your ISA account, you won’t be paying any taxes or your earnings. You can whithdraw as much as you like but you cannot add anymore money in it. 20K between April 6 until the 05th April from next year and then you can add on another 20K the year after.

I don’t think anyone is struggling, tax laws quite clear and have been for years. Only a very small percentage of people make over 12.5k realised profit outside their ISA so most people aren’t affected by capital gains tax anyway.

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HMRC gov page is very clear that you need to declare only if the total amount sold is more than four times the allowance and you are registered for self assessment. a lot of the people asking the question on here would not meet one or both of these requirements.

HMRC don’t need the excess paperwork.

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