I am curious about how GCT is handled within this app. Are all individual trades subject to CGT or is there some arrangement with HMRC to pay CGT on the overall portfolio on cashing out. How is CGT reported within the app?
Cheers
CD
Hi Christopher,
Within the app, realised gains and losses are recorded so that you can review your transaction history over time in the activity feed and in your portfolio statements. This information may assist you when calculating your Capital Gains Tax (CGT) position.
However, Stratiphy does not provide tax advice and users remain responsible for determining and reporting any taxable gains to HM Revenue and Customs (HMRC) where applicable.
If you are investing through a Stocks & Shares ISA, any gains realised within the ISA are generally not subject to CGT, as the ISA provides a tax-efficient wrapper under current UK tax rules.
I hope that’s helpful.
Nikki