I’ve been trading stocks and shares since March last year and I’m wondering how you all go about completing your tax returns… Do you do it yourselves or have someone else do it for you?
I have a couple of questions:
1, do you have to complete a tax return even if you don’t withdraw any of your profits from selling shares?
2, how difficult is it to do your own tax return? I think I would probably end up paying too much tax as I wouldn’t know what I can claim for, if anything?
3, if for example I deposited £100,000 into T212 account and then withdrew £5,000 6 months later, would I have to pay any tax on the £5k? As I’ve already paid tax on the £100k, I wouldn’t have thought I would have to pay tax twice?
I’m new to tax returns so any advice would be greatly received