Hi,
Does anyone know of a good platform that will connect to all the brokers and suck in all your trades and commissions and spit out a capital gains tax report please? I need it to be UK compatible.
Can’t find anything out there!
Thank you!
Stuart
Hi Stuart,
Based on my own experience of now having to pay for the pleasure of reporting my own VAT returns to HMRC and having to buy one of their “approved products” every quarter, which is a simple macro that just converts seven data fields onto what used to be a manual form, I am afraid it would be a miracle if anyone wrote a programme that did what you are asking for all possible combinations of broker APIs, even if they existed.
By the way, are you not exempt from profits on trading accounts in the UK?
Hi Mondeoman.
Thanks for your response! That’s interesting - do you have a link to their approved products?
I don’t think I’m exempt, as although I just trade forex part-time, I thought only spread betting was exempt?
What’s the best software?
When I just started my business, calculating taxes was a problem for me. But I totally understand you. I hired a full-time accountant, and I was spending too much on it. I wouldn’t trust software for calculating my taxes. This is why I started to use the services of an offshore company like xolo.io. I am paying them less for the same amount of work, and they never disappointed me. Since I started to use their services, I never had problems with my taxes. Most of all, I like that I don’t need to bother anymore about my accountancy.
I would like to refer to Taxraahi is a software package that allows complete tax automation and accounting result for individuals and businesses. It connects GST, ITR, TDS filing systems so that you can easily deal with them from one place. This income tax return software tool encourages you to import all your great data from excel to tally.