RE: Red Braces Brigade6 Jan 2021 09:58
V. I used to list all my trades for the the taxman. Then I got an accountant. To do it on line. Only costs about £150 and saves me a load of aggro. Just put down income, divs, interest, a total loss and total profit on trading, total disposals and overall profit or loss for the year. Seems to work ok. All ways have that nagging feeling they will want to be more scrupulous one year. They will randomly pick on people. I have friend who is a professional classical musician. About 20 years ago they investigated his earnings of £15,000 after his first three years and pinged for his excessive CD collection as expenses for christ's sake. I should think they love traders just think of all the stamp duty they collect!