Trading 212 and taxes

JLP7

Hi all,

Just wanted a bit of advice about what taxes I should be paying for trades on Trading 212.

This year I have been trading on a regular basis (a lot of the time buying and selling the shares on the same day)
my question is that if I am trading in this way does it still come under the capital gains tax (where you get £12300 allowance) or is there a different tax that I should be paying?

FYI I am not a professional I’m just doing it with some savings as the interest rates are so low.

many thanks for any advice given.

eskbanker

If you're using a general unwrapped account rather than an ISA then yes, all of your trading is subject to Capital Gains Tax, although you'd only actually be liable to pay any if your chargeable gains in any tax year exceed that £12.3K threshold.

Re "I’m just doing it with some savings as the interest rates are so low", that's a massive leap in risk from cash savings to day trading individual shares, so hope you know what you're doing and/or can afford to lose some or all of your pot....