stevio
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Post by stevio on Mar 3, 2017 10:03:02 GMT
Are platforms reporting investors CGT liability to HMRC, I thought it was only IT liability?
If so, I doubt whether HMRC would have the information to work out the CGT liability either
So untill platforms start reporting CGT to HMRC, in which case they will be able to provide investors with the figures reported, I think that the best you can do is work out the CGT liability to the best of your ability based on the information the platforms provide
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SteveT
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Post by SteveT on Mar 3, 2017 10:12:45 GMT
I concur with nick. In what seems to be a grey area, an opinion from a platform (or their advisor) is still an opinion and may cut little ice with HMRC in the event of a dispute or investigation. What surely counts is whether CGT is potentially due and/or being avoided. I cannot see how that can be an issue with platforms where all SM sales are made at par. I appreciate there is a total sales threshold for reporting but, if CGT is due, it must be declared anyway AIUI, even if total sales are below the threshold.
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