Calculation of Capital gain in CFD for UK

[gupta95046]

May be asked many time earlier, so please excuse me as a newbie

Do you know how Capital gain calculations work for CFD in terms of whether we can deduct commissions paid, borrowing charges, financing charges from the profit made to lower the tax bill.

 

[f2calv]

Yes you could go all out and work it out to the nth degree, however I found a simpler [and more accurate] approach was to just subtract the final CFD account balance from the starting account balance and bingo there was my gain.

And I'm sure you know this already but;
- If the gain is less than ~11k [or whatever the current years personal capital gains threshold is] you don't need to report the gain anyways.
- You can carry forward previous years losses into the current year, which in effect increases your current years CGT allowance.