What have others done in this situation?

My client has placed funds with a Financial Adviser who has acquired investments, collected income, issued a consolidated tax certificate etc. The FA has also provided details of disposlas of listed investments in a neat schedule that could easily be attached as a pdf to the tax return. The only problem is that the schedule doesn't show the acquisition dates of the investments, something that I believe HMRC requires.

There have been 22 disposals (total proceeds £35,000) with 19 gains totalling £1,600 but 3 losses totalling £200. Disclosure is required by HMRC due to the incidence of losses.

My client is reluctant to pay me to enter 22 transactions that are of no significance to his overall tax position, and I don't blame him.

The only idea I have is to not claim the losses, with the idea that the gains themselves are not required to be disclosed (below the disclosure limits on Page TRG5 of the Tax Return Guide). Does this sound a sensible approach or is there something I am missing please?

 

Comments
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Net gain is £1400

valentino rossi |
valentino rossi's picture

Net gain £1,400

Bluffer |
Bluffer's picture

What software do you use?

calvinplummer |

Software

Bluffer |
Bluffer's picture

PTP

calvinplummer |

gross gain below £10,100 - no problem

susanna russell-smith |
susanna russell-smith's picture

May not be churning

pauljohnston |

PTP and capital gains

Tomazaan |

Trusts

pauljohnston |

Gross gain below £10,100 - no problem

Bluffer |
Bluffer's picture