Tax Report for UK Residents

etoro doesn’t provide tax advice. Any data reported in the tax report is strictly for informational purposes only and it isn’t intended as a tax declaration or as a substitute for legal advice. We strongly advise you to verify the tax report with your tax advisor.

On this page, you will find information about tax reporting in the UK. etoro Club members living in the UK can generate a tax report based on the previous financial year’s investment activity on the etoro platform, structured in accordance with local tax guidelines.

Select a question to go directly to that topic.

1. What should I be aware of when reporting taxes in the UK?
2. What does HMRC consider taxable?
3. How are capital gains calculated in the UK?
4. Why are the capital gains between the etoro account statement and the tax report different?
5. What are the official tax forms and where can I download them?
6. Can I use the etoro tax report as a basis for filling out official tax forms?
7. etoro Consolidated Income Summary
8. Form SA100: Tax Return
9. Form SA101: Additional Information
10. Form SA106: Foreign
11. Form SA108: Capital Gains Summary

What should I be aware of when reporting taxes in the UK?

• The tax year is from 6 April to 5 April.
• The general deadline is 31 January for electronic submissions. For the paper format, the deadline is 31 October.
• The reporting language is English (EN).
• The reporting currency is Pound sterling (GBP)
• For more information, please visit the HMRC Self-Assessment website.

What does HMRC consider taxable?

• Income, which includes earnings generated through diverse channels including:
• Dividends
• Interest
• Other income from CFD-like instruments
• Capital gains from any assets
• Fees/capital losses from investment funds

This list is not exhaustive.

How are capital gains calculated in the UK?

The capital gain/loss on an asset can be calculated by subtracting the cost basis (purchase price) and any associated fees of an asset from the value of the asset when it was sold.

If many positions are held on the same asset, bought at different prices, there are several methods for working out the cost basis when the assets are sold. Local British law requires that shares sold are matched with purchases in the following order:

1. Same day rule: a sale is first matched with any purchase made on the same day.
2. Bed and breakfast rule: If no purchases were made on the same day, a sale is matched with any purchase that occurred within a 30-day period following the sale.
3. Average price rule, also known as ‘Section 104 Holding’: The cost basis of any sale that does not meet the criteria of the above rules will be the average purchase price of all of the shares held on the asset.

For more details on these rules and examples, visit this HMRC page.

• In the case of offshore non-reporting funds, the ‘last in, first out’ (LIFO) method is used.

For an explanation of LIFO, visit our article on cost basis.

Why are the capital gains between the etoro account statement and the tax report different?

You may notice differences between your etoro account statement and your etoro tax report. These can be attributed to:

1. The different methods used to calculate capital gains.

• Account statement reporting method: Specific lot identification
• Tax report reporting methods:
• Same day rule
• Bed and breakfast rule
• Average price
• LIFO

1. In the tax report, the values of the positions are converted from USD to GBP at the time of position opening and closing. This conversion process may result in a further difference in the end value between the account statement and the tax report.
2. The tax report is calculated for the UK tax year, which is 6 April – 5 April, not the calendar year.

What are the official tax forms and where can I download them?

The main self-assessment tax return form (SA100) is used to declare income from investments:

• SA100: Tax Return

In addition, there are several supplementary forms:

• SA101: Additional Information
• SA106: Foreign
• SA108: Capital Gains Summary

Can I use the etoro tax report as a basis for filling out official tax forms?

In this section, we will go through the self-assessment forms one by one, showing where to enter information found on your etoro tax report.

The figures in the tax report include a ‘box number’ which can be found on the official tax form.

The information on this page should not be used as a guide on how to fill in your tax return. Please review the official notes on the tax forms and consult your independent tax advisor for questions.

etoro Consolidated Income Summary

The etoro tax report includes a consolidated income summary with a reference column showing the relevant box numbers. For detailed entries, please compare the detailed income and capital gain sections of the tax report.

In general, the total sum amount of all of your financial accounts across all banks and financial service providers should be entered per the appropriate box.

Below is an example of the etoro consolidated income summary from the etoro tax report.

Form SA100: Tax Return

This form is used to report your income and claim any tax relief and repayments that are due to you.

etoro Tax Report

Below is a screenshot of the etoro tax report. The box numbers in the left column indicate where the information can be entered on the official form.

Official Form

Below is a screenshot of the official form, showing where you can enter the above information, according to the respective box numbers.

Form SA101: Additional Information

SA101 is a supplementary form used to record less common types of income, deductions and tax reliefs.

etoro Tax Report

Below is a screenshot of the etoro tax report. The box numbers in the left column indicate where the information can be entered on the supplementary pages.

Official Form

Below are screenshots of SA101, showing where you can enter the above information, according to the respective box numbers.

Form SA106: Foreign

SA106 is the supplementary form used to record foreign income and gains.

etoro Tax Report

Below is a screenshot of the etoro tax report. The box numbers in the left column indicate where the information can be entered.

Official Form

Below are screenshots of SA106, showing where you can enter the above information, according to the respective box numbers.

Form SA108: Capital Gains Summary

SA108 is the supplementary form used to record various totals on capital gains and losses.

etoro Tax Report

Below is a screenshot of the etoro tax report. The box numbers in the left column indicate where the information can be entered on the supplementary pages.

Official Form

Below are screenshots of SA108, showing where you can enter the above information, according to the respective box numbers.