Trading shares declaration in Self assessment ?

everfor007

1.5 year sago i've invested £30k in  ig.com trading account doing buying and selling of shares continuously. I am not going to withdraw the amount and leaving it for another few  year.  Currently Due to covid impact my portfolio showing negative £27k and i'll sell it later. 
Seem i haven't withdrawn the amount, In the self assessment, do i need to declare about the trading share details either negative or gain value in the future? if yes, how to declare it? Also i forgotten to declare the share info in SA 18/19.

Jeremy535897

HMRC are not going to treat you as operating a trade. They take the view that individuals buying and selling shares do so as speculators, not traders. See https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim56850 and https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim56860

As a result, you should work out and declare your capital gains and losses in the normal way, and declare those according to capital gains tax rules. You should also declare the dividends in the normal way. It may well be that for 2018/19 no tax was at stake, but you may want to establish capital losses for future use. See https://www.gov.uk/capital-gains-tax/losses

You have until 31 January 2021 to amend your 2018/19 return.

Ray_Coman

The capital loss will be carried forward and set against any capital gains in the future after the annual exemption.  At the time of writing (2020/21) the annual exemption is £12,300.)  You are better off at least recording the loss.  It will carry forward indefinitely.  This could include reduction on gain in any investment property.

everfor007

Thank you much for all reply.  In uk trading account done so many transaction i.e buying & selling. i've download the closing mar 31 statement in that showing invested amount and loss amount from my share dealing account which holding mixed USD & GBP shares. Do i need to separate the  USD and GBP  share sum amount ? or just one sumup amount (USD+GBP)?

Noticed in Self assessment filling, under capital gain -> listed shares & security there is option of
  Allow able costs(purchase price) : i guess need to fill the total invested amount from above closing statement
Losses in the year : i guess need to fill the loss amount 
it's asking to fill the number of disposals column also? is this question related total no. of share for all holdings?

Jeremy535897

You need to work out a capital gain or loss for each transaction for each shareholding. If you have currency transactions they too produce gains and losses. There are various matching rules if you sold part of a holding.

AnotherJoe

If the OPs made a loss and not sold more than £49,200 of shares *in FY 2010/20* (not overall) there's no need to declare anything.

BTW OP I hope you mean you have lost £3k rather than you owe ig.com £27k (eg 'negative £27k')

Any reason this isn't in an ISA?  You could transfer £20k in this FY and the £7k after April 5th.

Jeremy535897

AnotherJoe said:

If the OPs made a loss and not sold more than £49,200 of shares *in FY 2010/20* (not overall) there's no need to declare anything.

BTW OP I hope you mean you have lost £3k rather than you owe ig.com £27k (eg 'negative £27k')

Any reason this isn't in an ISA?  You could transfer £20k in this FY and the £7k after April 5th.

If shares worth £30,000 have been turned over continuously all year, I'd be extremely surprised if the proceeds were under £49,200, but you have to compute the losses and put them on a tax return if you want to claim them.

payless

Shares, CFDs, or spread betting account ?