P Wright
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RE: Tax on trading CFDs
Hi Levant Giray/HMRC This might be a bit late but I can confirm your CFDs should be in the 'other property and assets section as you don't actually own the share in real terms, you're trading on relative value differences hence it seems to a bit of a grey area, but they are 'other assets' (not crypto). Also you can set out your numerous trades in a spreadsheet and just put 1 Disposal in box 14 and aggregate gains/losses in boxes 17 and 19. Question My tax advisor at one point I think erroneously put my CFD trades for the year in boxes 23-30 (Listed shares) they also extracted dividends (or part dividends applied) during CFD trades and put them in the Dividends box of the Income section of the return which I think is wrong? So my question to HMRC friends is can you include any dividends applied in cfd trading disposals in the 'gains' box 17 rather than extracting them and putting them in the dividends box 4 of the Income section? (as they re not owned shares as explained above. Also please I assume that if I or Levant wish to make a claim for our losses (up to the maximum allowable CGT) then that goes in as a positive not a negative number I assume in box 19? Also do I need to make an election under code OTHR in box 20 if I want to carry over my losses to next year, Box 47? Sorry for the number of questions I spent 2 hours wiating for a call today.. Regards Philip