As part of their personal tax, any individuals that have purchased investments will need to keep records for investment accounting purposes. These records will consist of when they buy and sell their investments, in addition to any dividends that they receive. By keeping extensive records, executing your investment accounting will be a great deal easier.
Investments may include equity investments (money that is invested in a company through purchasing their shares) and property investment. We recognise that it can be difficult to keep track of all your investments and their implications, so in this case it is beneficial to work with an investment accounting firm who can fully understand your affairs.
When Will I Pay Tax on My Investments?
Tax is usually payable on the purchase of UK shares, share options and interest in shares. When you buy shares, you usually pay a tax or duty of 0.5% on the transaction. However, there may also be some exceptions. This includes if you are given shares for free, subscribe to a new issue of shares in a company, or the receipt of shares for no consideration. There are also special rules for certain share transfers and exemptions available for low value purchases. To find out more information on the tax you pay when you buy shares, visit the gov.uk website.
When you sell your shares, if you make a profit you may need to pay Capital Gains Tax (CGT). For more information, see our services on Capital Gains Tax.
Our Investment Accountants
If you are looking for extra guidance regarding your investments, we can help. Our team of chartered tax advisers are available to support you in understanding the implications of share purchases on your personal tax. Contact the team at striveX to see how we can help you understand your personal tax return.
Convenience and care are our core strengths. By focusing our services around these principles we have developed long lasting relationships with our clients. See below for how.
We want our clients to have choice and so we use all the major accounting packages to help them work with the best solution for their business.
We want our clients to be stress free, so we meet at their premises, respond promptly to queries and accept calls out of normal working hours.
We want our clients to receive a technical service, so all our work is signed off by either a qualified accountant, chartered tax adviser or tax specialist.
Most importantly, we take interest in our clients as we love what we do. We encourage regular and open discussions to avoid focusing on standard compliance and spend more time discussing development of their businesses.
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Neither of us have much time these days running the business together (mainly because Rach is a new client generating machine) But as I ...