Michael Hamlyn
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RE: Capital Gains Tax on Discretionary Managed Account
The attachment will just be the Sales Price - Purchase Price - the original purchase and sale documents are available. Trust this is adequate? -
Capital Gains Tax on Discretionary Managed Account
Selling a Managed Account, purchased for say 500 and sold for 570. Need to pay capital gains tax on the gain of £70k. HMRC return asks to list each share fund buying and selling costs but this impossible over many years of portfolio holding. The gain is straightforward based on the net sale proceeds less the cost of initial investment as there were no withdrawals. How can I declare the gain simply in a return to HMRC? Thanks.