UK tax calculator for Interactive Broker. To help report UK tax for dividend and capital gain.
User can also add trades manually using the "Add trades" page.
An example is included (see below). For other brokers I suggest copying the xml example and modifying it manually if you only have small number of trades. Or if you can code new parsers are welcome.
The system is designed to accomodate new parsers of different statement files convertiable to a string (or bytestream?).
Anyone interested can implement a new parser implementing ITaxEventFileParser.
https://github.com/alexpung/UK-Investment-tax-calculator/tree/master/BlazorApp-Investment%20Tax%20Calculator/Parser/InteractiveBrokersXml
More corporate actions
PDF report
Tests and feedback are welcome, bugs are to be expected.
File sample is here, you can download it and put it in the web app to see how it works.
Your trade data is not uploaded anywhere. They never leave your browser thanks to Blazor WASM framework. The calculation is entirely done in your browser.
Share matching rules are implemented according to: https://rppaccounts.co.uk/taxation-of-shares/
Note point #4 when buying back shorted shares #1 (same day rule) and #2 (bed&breakfast) still applies.
Examples can be found in https://github.com/alexpung/UK-Investment-tax-calculator/tree/master/UnitTest/System%20Test/Interactive%20brokers
Dividend Summary
Tax Year: 2020
Region: JPN (JP)
Total dividends: £555.00
Total withholding tax: -£166.50
Transactions:
Asset Name: ABCD, Date: 02/02/2021, Type: Withholding Tax, Amount: -¥30,000, FxRate: 0.00555, Sterling Amount: -£166.50, Description: ABC CASH DIVIDEND - JP TAX
Asset Name: ABCD, Date: 02/02/2021, Type: Dividend, Amount: ¥90,000, FxRate: 0.00555, Sterling Amount: £499.50, Description: ABC CASH DIVIDEND (Ordinary Dividend)
Asset Name: ABCD, Date: 02/02/2021, Type: Payment In Lieu of a Dividend, Amount: ¥10,000, FxRate: 0.00555, Sterling Amount: £55.50, Description: ABC CASH DIVIDEND (Ordinary Dividend)Summary for tax year 2021:
Number of disposals: 2
Total disposal proceeds: £2,693.00
Total allowable costs: £2,261.00
Total gains (excluding loss): £432.00
Total loss: £0.00
Disposal 1: Sold 200 units of ABC on 03-May-2021 for £1,834.73. Total gain (loss): £5.56
All units of the disposals are matched with acquitions
Trade details:
Sold 200 unit(s) of ABC on 03-May-2021 for $2,200.00 = £1,870.00 Fx rate = 0.85 with total expense £35.28, Net proceed: £1,834.73
Expenses: Commission: $1.50 = £1.28 Fx rate = 0.85 Tax: $40.00 = £34.00 Fx rate = 0.85
Trade matching:
Same day: Matched 50 units of the disposal. Acquition cost is £460.28
Matched trade: Bought 50 unit(s) of ABC on 03-May-2021 for $510.00 = £433.50 Fx rate = 0.85 with total expense £26.78, Total cost: £460.28
Expenses: Commission: $1.50 = £1.28 Fx rate = 0.85 Tax: $30.00 = £25.50 Fx rate = 0.85
Gain for this match is £458.68 - £460.28 = -£1.59
Bed and breakfast: Matched 50 units of the disposal. Acquition cost is £560.29
Matched trade: Bought 100 unit(s) of ABC on 04-May-2021 for $600.00 = £516.00 Fx rate = 0.86 with total expense £44.29, Total cost: £560.29
Expenses: Commission: $1.50 = £1.29 Fx rate = 0.86 Tax: $50.00 = £43.00 Fx rate = 0.86
Gain for this match is £458.68 - £560.29 = -£101.61
50 units of the earlier trade is matched with 100 units of later trade due to share split in between.
At time of disposal, section 104 contains 200 units with value £1,617.20
Section 104: Matched 100 units of the disposal. Acquition cost is £808.60
Gain for this match is £917.36 - £808.60 = £108.76
Disposal 2: Sold 100 units of DEF on 05-May-2021 for £858.71. Total gain (loss): £427.42
All units of the disposals are matched with acquitions
Trade details:
Sold 100 unit(s) of DEF on 05-May-2021 for $1,000.00 = £860.00 Fx rate = 0.86 with total expense £1.29, Net proceed: £858.71
Expenses: Commission: $1.50 = £1.29 Fx rate = 0.86
Trade matching:
Cover unmatched disposal: Matched 100 units of the disposal. Acquition cost is £431.29
Matched trade: Bought 100 unit(s) of DEF on 06-Dec-2021 for $500.00 = £430.00 Fx rate = 0.86 with total expense £1.29, Total cost: £431.29
Expenses: Commission: $1.50 = £1.29 Fx rate = 0.86
Gain for this match is £858.71 - £431.29 = £427.42Section 104 detail history:
Asset Name ABC
Date New Quantity (change) New Value (change)
01/05/2021 200 (+200) £1,617.20 (+£1,617.20)
Involved trades:
Bought 200 unit(s) of ABC on 01-May-2021 for $2,000.00 = £1,600.00 Fx rate = 0.8 with total expense £17.20, Total cost: £1,617.20
Expenses: Commission: $1.50 = £1.20 Fx rate = 0.8 Tax: $20.00 = £16.00 Fx rate = 0.8
03/05/2021 100 (-100) £808.60 (-£808.60)
Involved trades:
Sold 200 unit(s) of ABC on 03-May-2021 for $2,200.00 = £1,870.00 Fx rate = 0.85 with total expense £35.28, Net proceed: £1,834.73
Expenses: Commission: $1.50 = £1.28 Fx rate = 0.85 Tax: $40.00 = £34.00 Fx rate = 0.85
03/05/2021 200 (+100) £0.00 (+£0.00)
Share adjustment on 03/05/2021 due to corporate action. Disposal 1: Close short position 2 units of NIYH4 on 05-Mar-2023. Total gain (loss): -£28,011.90
Trade details:
Bought 2 unit(s) of NIYH4 on 05-Mar-2023 12:35 with contract value ¥31,000,000 with total expense £6.30
Expenses: Commission: ¥900 = £6.30 Fx rate = 0.007
Trade matching:
Same day: Matched 2 units of the disposal. Acquisition contract value is ¥31,000,000 and disposal contract value is ¥27,000,000
Payment made to close the contract as loss is (¥27,000,000 - ¥31,000,000) * 0.007 = -£28,000.00, added to allowable cost
Total dealing cost is £11.90
Matched trade: Sold 2 unit(s) of NIYH4 on 05-Mar-2023 12:34 with contract value ¥27,000,000 with total expense £5.60
Expenses: Commission: ¥700 = £5.60 Fx rate = 0.008
Gain for this match is -£28,000.00 - £11.90 = -£28,011.90
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Disposal 2: Close long position 2 units of NIYH6 on 07-Mar-2023. Total gain (loss): -£42,009.00
Trade details:
Sold 2 unit(s) of NIYH6 on 07-Mar-2023 12:34 with contract value ¥20,000,000 with total expense £4.80
Expenses: Commission: ¥800 = £4.80 Fx rate = 0.006
Trade matching:
At time of disposal, section 104 contains 2 units with contract value ¥27,000,000
Section 104: Matched 2 units of the disposal. Acquisition contract value is ¥27,000,000 and disposal contract value ¥20,000,000, proportioned dealing cost is £4.20
Payment made to close the contract as loss is (¥20,000,000 - ¥27,000,000) * 0.006 = -£42,000.00, added to allowable cost
Total dealing cost is £9.00
Gain for this match is -£42,000.00 - £9.00 = -£42,009.00 Disposal 1: Dispose 375 units of USD on 17-Dec-2019 for £285.59. Total gain (loss): -£1.14
All units of the disposals are matched with acquisitions
Trade details:
Dispose 375 unit(s) of USD on 17-Dec-2019 00:00 for $375.00 = £285.59 Fx rate = 0.76158. Description: Testing
Trade matching:
Bed and breakfast: 375 units of the acquisition trade against 375 units of the disposal trade. Acquisition cost is £286.74
Matched trade: Acquire 425 unit(s) of USD on 18-Dec-2019 00:00 for $425.00 = £324.97 Fx rate = 0.76463. Description: Testing 2
Gain for this match is £285.59 - £286.74 = -£1.14