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Can you claim expenses with CGT?
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Boyd68
Posts: 1 Newbie
in Cutting tax
Hi I'm new to this great forum and I've just started to make some money with some shares I bought a while ago. Now I understand I can keep some money in an ISA tax free but can I claim for any expenses like businesses can? ie internet connection, computers, software and any courses I go on as I need these when I buy shares online.
thanks in advance
thanks in advance
0
Comments
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No, you can only claim brokers fees. The expenses you describe would only be allowable if you were self employed.£705,000 raised by client groups in the past 18 mths :beer:0
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Unfortunatley, unlike property, for shares you cannot claim any expenses other than brokers costs but on the plus side you will have to make a gain of more than £10,100 (for 2009/10) on disposal of your shares before you have any tax to pay. Also now on any gains over this amount the CGT rate is 18%.Client Adviser at taxpenny.co.uk0
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