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Posted Wed, 09 Nov 2022 20:02:49 GMT by YY WONG
Due to technical problem of the broker (which they are still investigating) , the joint broker account held by my husband and I cannot trade US Treasury bill. So we are forced to use my sole name broker account to trade US Treasury bill . For the gain from trading US Treasury bill using my sole name broker account, 1. please advise how we can apply from HRMC to declare that the gain from trading using my sole name account shall be splitted between me and my husband (50% 50%) (NB: both he and I can access my sole number broker account, and the gain is shared with both of us. It is only due to technical problem of the broker that we cannot trade the US Treasury bill using a joint name account). 2. please clarify whether the gain from trading US Treasury bill should be treated as income or capital gain. (the gain is the differences between the face value on matured date and the purchased value on the traded date).
Posted Mon, 14 Nov 2022 15:04:33 GMT by HMRC Admin 17

The guidance at CG10720 states that the peson chargeable is normally the beneficial owner of the asset being disposed of. 

With the account being in your name, you would be considered the beneficial owner and taxable on the full amount of gain/loss. 

See  link:

Capital Gains Manual   .

Thank you.

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