Broker Commissions with offsetting 'Trading Credits' - Allowable Expenses on Share Disposal

In relation to showing Broker Commissions as Allowable Expenses for Share transactions within the submitted/attached ‘Disposal Summary’ for CGT: My Broker provides an amount of ‘Trading Credit’ as part of the monthly fees package and this credit is shown as offset against any Commissions incurred on the Contract Notes. In some cases the Net Commission (Commission Expense Less Trading Credit) is therefore zero. When reporting disposals within the ‘Disposal Summary’ to be attached to my return, should I: a. List the Trading Credit and Commission as two separate items (with the Trading Credit effectively being a 'Negative Expense')? OR b. Ignore the Trading Credit entirely? But then the transactions won't 100% agree with my records (i.e the Contract Notes). Thanks

Hi,

You can attach a pdf of what your broker sent as well as your own record as clarification.

Thank you.

Hi - I can attach the records - but what do I actually show in the calculation? Assuming I list the Trading Credit and Commission as two separate items (with the Trading Credit effectively being a 'Negative Expense')? e.g: Allowable Expenses: Broker Commission: (40.00) Broker Trading Credit: 7.99 Is this correct? Thanks

Hi,

All you are doing is providing supporting evidence for the figures declared in the tax return. What that looks like is up to you, so there is no right or wrong way of doing this.

Thank you.