T212 transaction data for tax return

šŸ¤ Help
1

Hi All,

Would anyone be able to explain how to work out how much profit was made during the tax year so as to know how much tax to pay?

Iā€™ve downloaded the exportable spreadsheet but Iā€™m not quite sure what to do with it to be honest!?

Appreciate any help given.

Cheers,
Paul

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2

If you are a UK taxpayer, start by reading the FAQ below. To work out your taxable capital gains or losses you need to deduct from the proceeds of each sale the appropriate cost. The information you need is in the spreadsheet but you will need to do some work.

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3

Hey, :wave:

You can reach us out at the end of the tax year and weā€™ll send you a statement that includes all essential information about your investments throughout the year.

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It would be cool if you sent this out to every customer automatically.

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Hi Bogi.H,

Could you send me this info for tax year 2020 to 2021?

Looking at the spreadsheet, how do filter to see your profits for a given time period? If this can be done, are the profits shown including all fees paid?

How is everyone else using the spreadsheet to calculate their gains and thus tax owed?

Thanks

6

Hey @gsxr1paul,

I just sent an email your way along with the requested document. :mailbox:

All of the information you need can be found there. Nevertheless, feel free to DM me or anyone else from the @Team212 , if you have any additional questions.

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Hi B.E.,

Thanks for that, makes things alot easier!

Is this something that T212 account holders will be able to view on their account? Or will we only have access to it by request?

If possible, could you advise how the profit / losses etc that are on the certificate can be worked out via the downloadable spreadsheet?

Many thanks for your support.

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8

There is some useful details on this thread to help you out.

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9

Hi All,

Regarding the HMRC question of ā€œwhen did you sell or give away the shares?ā€ā€¦ what would be the answer if you sold multiple shares at differnt times during the course of the tax year?

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thatā€™s a very simple calculator that works out your gain for one purchase so not really much use. the way I did my capital gains was as follows:

  • export transactions to CSV
  • filter by ā€˜market sellā€™, you will see a separate line for every sell which might be the same stock over and over.
  • each sell will have a ā€˜result GBPā€™, sum these up to get your gain for the year.

note I donā€™t think the spreadsheet shows the buy price but just the result, this is all that is important to work out the gain/loss.

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Thanks mate, gonna get an accountant to do take care of this.

12

Hi All,
I just downloaded the csv for the 2020-2021 tax year , seeing as Iā€™ve just started out i used small amounts until I get my head share dealing.
The amounts Iā€™ve gains of Ā£33.25 and the amounts Iā€™ve losses of Ā£186.19 so for the year Iā€™ve lost a total of -Ā£158.94.
Be kind Iā€™m only starting out at this, iā€™m using the invest account not the ISA.
Now the questions i have are :

do i just declare the gains?
do i have to declare the tax losses?
do i have to note every single transaction or just round it up as Ā£33.25 via T212 for my accountant seeing as i have the full transactions through the csv file as reference for my T212 account.

Thanks in advance, Iā€™m reading all the tax help files atm.

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You get 12,300 of CGT allowance a year. You can offset past losses against future gains I believe. You might be better looking at the tax sticky thread.

If you donā€™t log your own self assessment for tax youā€™re probably fine as you are.

I wouldnā€™t worry about your losses. Itā€™s a learning game. All I would say is time in market usually trumps most, and most people canā€™t beat a simple index tracker fund.

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index tracker fund? any examples, thx

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VWRP / HMWO - both cheap global equity trackers. Just buy and forget strategies really.

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forgot to mention i do log my self assessment for tax in excel then pass it over to accountant, i just donā€™t know what to log it as ? Trading 212 online broker ? then gains or full individual transactions?

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You do not need to include capital gains in your self assessment if the total value of the assets you sold is under Ā£49,200 AND your profit is less than Ā£12,300.

Have a look at this :arrow_down: post, it has all the information you need.

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18

Thanks for reply,
Iā€™ve read over your thread and links,
Iā€™ve made a list of , instrument name, date of purchase, date of sale, cost, proceeds, gain/loss for my reference, i just donā€™t know what I should add it under,
this is where Iā€™m not seeing it.
Do I have to include it as just : Trading 212 Broker - gain - Ā£33.25
in my tax return or list every ticker individually.
The total value of the assets sold is only Ā£33.25.
Being self employed i exceed the Ā£12,300 through my income.
Sorry for being a bit dumb on the subject it is a new entry on my tax form i just need to get it right before i submit it.
Thanks.

19

Here is the misunderstanding!

You do not have to report capital gains if your profit *from capital gains is less than Ā£12,300, not all your income.

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Also donā€™t confuse your income allowance with your capital gains allowance, they are 2 separate things.

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