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Posted Fri, 13 Jan 2023 17:55:11 GMT by Joe19721
I receive dividends from investments above the dividends allowance via a stockbroker platform. The platform charges a monthly fee to access their services. Can the monthly fee be deducted as allowable expense in the online Self Assessment and if so which sections should I use to claim the expanse please? thank you
Posted Tue, 17 Jan 2023 14:24:08 GMT by HMRC Admin 17

The fees incurred in accessing an online stockbroker platform can't be claimed as an allowable expense re: dividends.

However any stockbroker fees incurred in the buying and selling of shares can be deducted when calculating the Capital Gain on the sale of shares.

Thank you.
Posted Wed, 18 Jan 2023 23:16:55 GMT by Joe19721
Thank you. I did not mean in the dividends section. I was told Stockbroker platform fees such as Hargreaves Lansdown can be claimed in the "Investment expenses" section of the Self Assessment. As this section is for expenses incurred in the production of income from investments, such as charges for the management or administration of investments or any other expenses that relate to the management of your investments. Could you confirm this is allowable please (or not)?
Posted Mon, 23 Jan 2023 14:32:52 GMT by HMRC Admin 32

The fees charged by the stockbroker for buying and selling shares on your behalf, is an allowable expense. Any costs incurred in obtaining access to the online platform are not allowable, as they are not incurred in the buying and selling of shares.

Thank you.

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