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?
- Posting Corp Tax to Sage Line 50 77 1
- Special dividends & CGT 171 1
- Director's Earnings when Drawing from Goodwill profit from Sole Trading Company sale to Ltd Company 115 1
- Networking 321 5
- Turnover on a tax return 463 10
- Are you going to Tick and Bash on 21 May? 1,209 33
- VAT refund 264 2
- Bank Interest Held by Solicitor During Divorce 260 2
- US company hiring UK citizens in UK 290 4
- Corrupt excel .XLSX file 120 1
- incorrect old p60 512 13
- What VAT to reclaim on van purchased on HP? 325 5
- Professional coaching claimable? 252 2
- IT Contractor 275 1
- Sage instant account codes 182 1
- Mobile phones, directors of micro-companies 278 1
- Cashflow forecasting software 327 4
- Letter to HMRC over 3 months ago, still no reply 1,968 19
- Companies House paper incorporation - date of birth omission 338 4
- Is there an AIA calculator anywhere 317 1