Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Thu, 29 Feb 2024 08:38:37 GMT by HMRC Admin 19
Hi,

HMRC cannot comment on trading platform layouts.

You will need to work out any gains or losses to match with the boxes for the relevant Self Assessment pages and all income must be declared in sterling. You can see further guidance here:

HS284 Shares and Capital Gains Tax (2023)

Thank you.
Posted Thu, 29 Feb 2024 09:44:07 GMT by ec5784
Thanks HMRC Admin 19. That's fair enough. My point was that HMRC Admin 25 did comment a couple of month's ago and may have given misleading information. The "Adjusted Cost Basis" as per the E-Trade platform calculates the cost for each tranche of shares separately according to the share price on the date of purchase. If I understand correctly, this is a different calculation by what is required for Section 104 holdings and hence it was incorrect to agree with the previous posting about which suggested using Adjusted Cost Basis. This also does not take into account allowable trading fees and commissions on the purchase or sale.
Posted Thu, 29 Feb 2024 13:43:04 GMT by HMRC Admin 25
Hi ec5784,
The adjusted cost basis may be where the cost on a S104 holding comes into effect but as already stated, we cannot comment on the layout of trading platforms and you need to work out any gain/loss to match HMRC systems.
Please refer to the link previously given.
Thank you. 
 

You must be signed in to post in this forum.