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  • fee for holding an account with an online broker and Trading Income Allowance

    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?)
  • RE: Allowable Costs When Calculating Gain On Shares

    Hi, to follow this post, similarly, I have an annual account maintenance fee for my share dealing broker, for maintaining the account while shares are held. My broker takes their fee monthly from my cash balance in my share dealing account. My cash balance is a build up of the dividends I receive from offshore shares. My query: where can I insert this cost on my tax return, I cannot find anywhere to insert it? (I am guessing I cannot deduct it from the dividends I receive -and that I insert on my tax return-, as otherwise the foreign tax paid on it (which is inserted also on my tax return) wouldn't be any longer the 15% withholding foreign tax...am I correct?)