I am currently buying stock with Revolut but am a little concerned about the work I might need to put into working out the tax I owe. I don't if anyone can help me with these issues
- Everything is in $$ so does that mean its going to be complicated as I need to work out the conversation rate for each buy and sell which I've done multiple on each stock.
- I assume I pay tax on when I sell and not when I withdraw the money, is that right?
- If I sell the odd stock within the 30 days, do I have to pay income tax on this rather than CGT?
If you think I need to be aware of anything else, I would appreciate any advice. I'm new to investing so don't want to get caught out too much.
Thanks in advance.
- Everything is in $$ so does that mean its going to be complicated as I need to work out the conversation rate for each buy and sell which I've done multiple on each stock.
- I assume I pay tax on when I sell and not when I withdraw the money, is that right?
- If I sell the odd stock within the 30 days, do I have to pay income tax on this rather than CGT?
If you think I need to be aware of anything else, I would appreciate any advice. I'm new to investing so don't want to get caught out too much.
Thanks in advance.