Self Assessment/Offsets

meatandtwoveg

Hi. My first one this year. My only income is from share sales, interest from over seas, and dividends.
I'm not registered as a sole trader. But my income is derived from trading securities. Stocks and Shares.
It's how I make a living.
Can I offset anything against tax owed as I work from home.
I understand I have PA 12500, CGA 12300 and Div allowance 2000. Are there any other allowances I can claim.
Thanks for any help.

Jeremy535897

Almost every individual who "trades" in stocks and shares is treated as an investor, and therefore subject to capital gains tax on the net gains, after losses, on the deals. You can read up on this issue here:

https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim56800

You have a capital gains tax allowance of £12,300, and your personal allowance, and dividend allowance, are available to use against dividend income.

You cannot claim a deduction for working from home, as HMRC does not regard your share dealing as working.