UK Taxes

[Michael Collins]

Ok, I've searched the forums andthe net, including the HMRC site, but can't seem to find an answer.

Isuppose that every transaction has to be declared to be taxed, so how does a day trader do it?

For now I am paper trading and open and close about 10 positions each day, that would mean that just in a month you would end up with about 200 items to be individually declared (loss or gain). How do you keep track of such a huge amount of numbers it for over a year?

Or am I completely wrong here?

 

[Trader333]

You just take the net gain or loss over the whole year and that is all you need to declare.

 

[Michael Collins]

You just take the net gain or loss over the whole year and that is all you need to declare.

Thank you, you have been most helpful.