Finding a reputable accountant for self assessment?

Jeremy535897

I am probably missing something, because I don't understand your comments. In almost every circumstance, an individual investing in contracts for differences makes capital gains, or (twice as likely) capital losses. See https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg56100 and https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg56101

They aren't securities, so I would put them in the "other" section, carrying out the calculations required in the links above.
I don't know what other section in the SA108 you could put them in that would then prevent the offset of losses. It is obvious that they have nothing to do with residential property, so the rate of tax is 10% or 20% (or a mixture of the two), depending on your taxable income.

lr1277

Jeremy535897 said:

I am probably missing something, because I don't understand your comments. In almost every circumstance, an individual investing in contracts for differences makes capital gains, or (twice as likely) capital losses. See https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg56100 and https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg56101

They aren't securities, so I would put them in the "other" section, carrying out the calculations required in the links above.
I don't know what other section in the SA108 you could put them in that would then prevent the offset of losses. It is obvious that they have nothing to do with residential property, so the rate of tax is 10% or 20% (or a mixture of the two), depending on your taxable income.

Thanks for that link. I will study it in detail. I can’t remember my suggestion but not to worry as it seems the accountant made the right call.