Trades and taxes

I can show you a preview of our design for contract notes actually :smile:

We’ll be working to add the profit from your sale to these contract notes over the next few months too.

And while we’re on the subject, it’s worth mentioning a few points about Capital Gains Tax (CGT):

  • In the UK you have an Annual Exempt Allowance which means that if you earn less than a certain return, across all of you investments that you’ve sold, you don’t have to pay CGT
  • If your total net capital gain for the year is within the allowance (£11,700 in 2018–2019), it’s tax-free and there’s no need to report it. So you’d have to have a pretty big portfolio &/or a very good year, before you need to worry about paying CGT.
  • If you’re using an ISA or SIPP, for your investments (Freetrade are building these right now) you don’t need to worry about paying CGT on those investments
  • If you’re not & you exceed the Annual Exempt Allowance, you’re probably going to want to have an accountant to figure out how much you need to pay in CGT

There’s more details about Capital Gains Tax in this blog post -

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