I opened an account in a US based international broker company and received a "welcome bonus" in US dollar.
Is this bonus taxable? Or depends on the amount of bonus?
If yes, where shall I put this? Whether in the "other UK income" or "Foreign" part?
Is there any minimum duration of holding of the asset for reporting of CGT ?
Is it true that I only need to report any profit made on the sale of assets held for more than 12 months?
Thanks for reply. As this is taxed as interest, is it true that I report the interest after minus the commission fee which the broker charged me during buying the US Treasury Bills?
Thanks for your reply, the link in your reply is about "sell shares", while my above case is without selling: buying US Treasury bill with a commission paid, and then wait for maturity (without "selling") and get back the money.
(Understand from the HMRC Community Forum that the related income will be treated as interest instead of capital gain)
Please advise whether the commission shall be deducted before declaring the "income" in this case.
Refer to below, Is it true that I report the "interest" after minus the commission fee? If not, how do I declare the commission fee during reporting the tax?
I bought a US Treasury Bill using a broker account and paid a commission fee. I waited for this bill matured.
(Understand the related income will be treated as interest instead of capital gain, thanks for your reply from the below thread in the forum under capital gain).
I bought US Treasury bill and paid a commission/fee during buying, then I sell this US Treasury bond and paid another commission/fee (before maturity date).
When reporting the Capital Gain, is it true that I reported the Capital Gain of the net gain (total gain minus the buying and selling commission)?
If not, please advise how to report the Capital Gain. Thanks.
I have income from interest , but no income from salary.
Can I apply the personal allowance to the income from interest?
If yes, can I still apply the saving allowance after deducting the personal allowance?
Is the Capital Gain Tax allowance the same regardless of the amount of other income?
Thanks for your reply: One follow up question: Are these fees can be reported as Expenses during the self-assessment for personal tax? (as these are the fees induced for my investment using my broker account).
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).