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?
- Is laminated flooring an improvement on carpets? 174 3
- ethical- to continue to act or not? 407 11
- CGT 248 4
- Vat registration exception 67 2
- Do most of you still use MS Office? 418 10
- VAT rate charged by surveyor 67 1
- CGT 425 18
- Charity Grant accounting 88 3
- Property income in different capacities 203 4
- Entrepreneurs Relief 838 46
- Moneysoft and People's Pension 223 5
- EU eservices VAT change imminent 396 8
- how to object to registered company name... 211 1
- Recharge for private use of a company car 488 14
- What to say to Tom, Dick and Harry... 409 5
- VAT QUESTION 320 3
- More AE! 697 15
- Money Soft payroll 562 11
- Overdrawn Directors Loan Account 226 2
- Change of payroll software 431 10
- Auto enrolment excuses 1,198
- Feedback on accounts production software for IFRS 804
- Add T&Cs to Sales Order in Sage 497
- Digita Hosted Software 325
- Credit where credit's due....... 293
- Buying goods in US and selling them to company in US 230
- Flat rate VAT- other income calculation 170
- Double taxation relief - same income, different individual 148
- Corporation Tax return - more than one trade 139
- TheTax Donut 132