tag:blogger.com,1999:blog-261139923818144971.post8177611513660400204..comments2024-03-29T07:20:07.753+00:00Comments on This Blog is Systematic: Calculating UK trading tax liability with PythonRob Carverhttp://www.blogger.com/profile/10175885372013572770noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-261139923818144971.post-72158948127343197582021-12-14T12:36:42.229+00:002021-12-14T12:36:42.229+00:00Yes. I don't know whether they read or check i...Yes. I don't know whether they read or check it, as it's a pdf that runs over 100 pages usually!!Rob Carverhttps://www.blogger.com/profile/10175885372013572770noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-55872848435041708602021-12-14T11:18:29.282+00:002021-12-14T11:18:29.282+00:00Hi Rob,
Thanks for the wonderful scripts you wrot...Hi Rob,<br /><br />Thanks for the wonderful scripts you wrote.<br /><br />When you file the Self-Assessment, did you also submit the trade-by-trade calculations too?Wizardhttps://www.blogger.com/profile/15547323935915283101noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-25711243596637337212019-01-01T11:46:03.089+00:002019-01-01T11:46:03.089+00:00It might make more sense to invest in a vehicle as...It might make more sense to invest in a vehicle as you say; primarily because I wouldn't need to pay CGT every time a profitable trade was closed. However it's a moot point whether the higher charges of fund investing wouldn't wipe out all the taxable advantages. I'm also not just doing this for the money - it's fun to do it myself :-)<br /><br />I believe you can't invest in futures within ISAs. I believe you can do so within SIPPs, however the charges again are quite high.Rob Carverhttps://www.blogger.com/profile/10175885372013572770noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-36162752600189300802018-12-30T16:41:51.887+00:002018-12-30T16:41:51.887+00:00Hi Rob,
Is it tax-efficent to run your strategy i...Hi Rob,<br /><br />Is it tax-efficent to run your strategy in your personal IB account (non-ISA, I believe?) <br /><br />Would it be more tax-efficient for you to invest instead into a liquid fund vehicle that has same/similar strategy (e.g. liquid trend-following funds available to retail investors)? <br /><br />Feels like realised loss/gain situation would change tax math vs investing in a single fund unit.<br /><br />Also, I guess you could theoretically run your strategy in your ISA, making it tax free?Anonymoushttps://www.blogger.com/profile/03972407090816146406noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-70299398731932095762017-04-26T23:24:56.898+01:002017-04-26T23:24:56.898+01:00Just leaving some links here to help others affect...Just leaving some links here to help others affected by these rules.<br /><br />The relevant parts of the tax code seem to be section 104 and section 143 of the "Taxation of Chargeable Gains Act 1992": see http://www.legislation.gov.uk/ukpga/1992/12/section/104/enacted and http://www.legislation.gov.uk/ukpga/1992/12/section/143/enacted respectively.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-28335069793461712792016-10-05T09:49:56.413+01:002016-10-05T09:49:56.413+01:0028% then. haha. thanks28% then. haha. thankshennerhttps://www.blogger.com/profile/15381506750678483901noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-54361724091433233682016-10-05T09:23:37.866+01:002016-10-05T09:23:37.866+01:00It's 18% or 28% depending on your tax band (it...It's 18% or 28% depending on your tax band (it's recently come down this year actually); the first £11K or so is tax free.Rob Carverhttps://www.blogger.com/profile/10175885372013572770noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-59837188389697092132016-10-05T08:49:31.055+01:002016-10-05T08:49:31.055+01:00I'm curious. What is roundabout the cost you p...I'm curious. What is roundabout the cost you pay for trading profits on average in the UK? In Germany we have a flat tax on all capital gains which is 25%. Is that more in the UK?<br /><br />thanks for the answer and thanks for your great websitehennerhttps://www.blogger.com/profile/15381506750678483901noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-52897114794880365252016-09-15T18:57:25.005+01:002016-09-15T18:57:25.005+01:00The profit is considered to be translated on the d...The profit is considered to be translated on the day you close the trade, and in that tax year. This is the way the code works. HMRC doesn't care if you actually converted it back into GBP or not on that day.Rob Carverhttps://www.blogger.com/profile/10175885372013572770noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-41817732288734156232016-09-15T18:15:22.037+01:002016-09-15T18:15:22.037+01:00There are issues,
1. Some tables didnt have Tax co...There are issues,<br />1. Some tables didnt have Tax column<br />2. CFD (added that)<br />3. Asset class 'Equity and Index Options' <br /><br />I tried to fix some of the issues myself.<br />Calculations went wrong when Options leg is left to expire. I think this can be handled.<br /><br /><br />Although I have one general question.<br />By default IB loans USD and collects interest on it.<br />So if after closing position the profit/loss USD is not converted back into GBP, at what time the GBP profit/loss should be calculated.<br /><br />For example if the USD is accumulated over more than one tax year in which year the profit/loss is calculated as part of CGT.<br />jamuhttps://www.blogger.com/profile/05321681453221610721noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-7498305852838839342016-09-14T06:06:42.343+01:002016-09-14T06:06:42.343+01:00It uses the .xml files which should be the default...It uses the .xml files which should be the default. I don't trade CFD's so I have no idea if the format will be different. Are the trade files being parsed okay; the account files are optional?<br /><br />Rob Carverhttps://www.blogger.com/profile/10175885372013572770noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-46322006839160234432016-09-13T23:41:34.033+01:002016-09-13T23:41:34.033+01:00I'm trying use program. I have few queries.
Im...I'm trying use program. I have few queries.<br />Im running into few issues.<br />Is there a specific format the is expected from IB, the files I downloaded are not being parsed correctly.<br /><br />On IB there are different options to generate(view) account statement, I selected Default which doesn't seem to work.<br /><br />Could clarify on the format supported?<br />Does the program handle CFDs?<br />Thank you.jamuhttps://www.blogger.com/profile/05321681453221610721noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-6686801912979191272016-09-13T22:52:08.840+01:002016-09-13T22:52:08.840+01:00Brilliant, I was hoping to find something like thi...Brilliant, I was hoping to find something like this for very long time. jamuhttps://www.blogger.com/profile/05321681453221610721noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-44014316790186444522016-09-13T21:05:58.873+01:002016-09-13T21:05:58.873+01:00Brilliant, I was hoping to find something like thi...Brilliant, I was hoping to find something like this for very long time. jamuhttps://www.blogger.com/profile/05321681453221610721noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-14549598673890773302016-09-13T17:05:05.633+01:002016-09-13T17:05:05.633+01:00Yes Yes Rob Carverhttps://www.blogger.com/profile/10175885372013572770noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-89780058773394747682016-09-13T17:02:32.703+01:002016-09-13T17:02:32.703+01:00Hi Rob,
Does the python code take care of Forex r...Hi Rob,<br /><br />Does the python code take care of Forex rates?<br />jamuhttps://www.blogger.com/profile/05321681453221610721noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-78353431136863998962016-08-22T19:00:55.193+01:002016-08-22T19:00:55.193+01:00I have submitted two tax returns now on a CGT basi...I have submitted two tax returns now on a CGT basis and both were accepted. Make of that what you will.<br /><br />PS if you liked the book please leave a nice amazon review Rob Carverhttps://www.blogger.com/profile/10175885372013572770noreply@blogger.comtag:blogger.com,1999:blog-261139923818144971.post-11723743678356989902016-08-22T16:33:25.891+01:002016-08-22T16:33:25.891+01:00Hi Rob.
I've just finished reading your book ...Hi Rob. <br />I've just finished reading your book and really liked. A pleasant surprise among useless rubbish.<br />Did you get any reply from HMRC (regarding the way systematic trading profits are to be taxed: income vs. CG)? <br />Many thanks, <br />AlexMaterdonahttps://www.blogger.com/profile/16319112123024762178noreply@blogger.com