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Posted Thu, 08 Aug 2024 15:32:38 GMT by Anto B
Hi, I have two unclear points when inserting these on my tax return, I would very much appreciate if anyone could possibly help? 1: where can I insert the fee for holding an account with an online broker, this fee is charged for maintaining a share dealing account while shares are held? The share dealing broker company takes the fee directly from the cash balance in my account with them, while this cash balance is a build-up of dividends paid into this account. 2: I am a sole trader landlord (rather than a company) and I have income from property and relative costs both over £1000, and I also have a self employment job for which I have income below £1000. Can I use in this case the £1000 ‘Trading Income Allowance’ for the self employment section? (Is the £1000 applicable on self employment alone or is it meant to be applicable on the sum of any and all kind of income sources and therefore in my case, I guess if I wanted to use the allowance this would not be advantageous as £1000 is lower than my costs related to my rental property?)
Posted Tue, 20 Aug 2024 13:41:20 GMT by HMRC Admin 5 Response
Hi

1. this would only be taken into account when there is any gain/loss to declare on disposal of the shares  
2. yes you can use the trading allowance for the self employment income. as you state is is not applicable for the property income as your actual expenses are higher.

Thank you

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