In the 2022/23 tax year I was using Capital.com to trade stocks using Contract for Difference. The time each stock was held before selling varied but it was usually one week to 3 months.
With each trade there is an overnight fee applied for as long as the trade is open.
If I add up all the profitable trades and trades with losses together with the overnight fees, I made a profit during the tax year.
Is this the correct way to calculate whether a profit or loss has been made?
Is this profit considered income or capital gains?
If it is considered as income, what would happen if I had made a loss at the end of the year.
Thanks for your help.