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Do IG provide Tax statements for Capital Gains and Dividends for the current/previous fiscal years?
Asked by
hideoushog,
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10/06/21 10:53
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The cryptocurrency industry has grown rapidly in recent years, with the total market capitalization now exceeding $500 billion. However, the industry still faces a number of challenges, including security and on-chain efficiency which is one of the biggest challenges in the cryptocurrency industry, because in recent years, there have been a number of high-profile hacks of cryptocurrency exchanges & wallets, and traders are faced with high cost of on-chain transactions. All of which summed up to make cryptocurrency trading less efficient. In order to address these issues, exchanges are seen taking up the responsibility of solving the problems and I've seen Bitget, a leading cryptocurrency derivatives exchange, recently partnering with Cobo, a leading provider of digital asset custody and security solutions. This partnership is aimed at enhancing the security and efficiency of cryptocurrency trading, which will allow users to seamlessly execute cross-exchange transactions, enabling users to capitalise on arbitrage opportunities without having to deposit their funds directly on exchanges. This could significantly reduce on-chain transaction gas costs and make crypto investments more efficient and cost-effective. Developments like this, if it could be capitalised on would take away bad players from the industry, make crypto a safe place and increase its adoption, but how wide would it cover for the whole users in the crypto space and even Bitcoin? -
By tradinglounge · Posted
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By Maxicreed01 · Posted
I think bitget will be the obvious option cos binance that use to be a good option isn't finding it rosy atm with regulatory bodies and speculations around the health of the exchange aren't friendly to feel safe with them atm
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Question
hideoushog
On spread betting accounts there is no need to report profits and losses. However, on Stockbroking accounts there is. Most online broking accounts offer a yearly statement of Dividends, for Tax purposes. You need separate segments for US shares and US Tax withholding. Companies such as IB have excellent reposts making this very easy.
As far as I can see IG offer nothing. I must go through my entire year of Trading to generate my own Capital gain / loss. The same for Dividends.
I need something before the year end in 6 days, since I need to know what my (realised) Capital gain (loss) will be. This is extremely important because it may be necessary to realise some Capital gain / losses before the year end, so as not to exceed the Capital Gains tax limit (£11,300)
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