Due to the difficulty in purchasing U.S. ETFs in Europe, I have made 2 or three (small) contracts for difference , based on a " buy" of the U.S. ETFs. My contract is with eToro , and their web site confirms that I do not own the ETFs , and I seem to be just " betting" on their increasing in value. No leverage or short selling will be involved.
I am declaring any dividend paid on my Tax Return , and understand that CGT will be payable on any profits on closure of contract , but am unsure if I need to give details of " purchases" on my Tax Return.
As above , all dividends paid will be returned on line 310 in the return, but do I need to include the "purchase" of these Contracts for Difference , as Offshore Products, possibly on line 322 of the return.
My own opinion is that as I do not own the ETFs and am just betting on their increase in value there seems no need to use line 322 to report their "purchase" .
I will be grateful if anyone can give me a more expert opinion.
Thanks for all information, Nodo
I am declaring any dividend paid on my Tax Return , and understand that CGT will be payable on any profits on closure of contract , but am unsure if I need to give details of " purchases" on my Tax Return.
As above , all dividends paid will be returned on line 310 in the return, but do I need to include the "purchase" of these Contracts for Difference , as Offshore Products, possibly on line 322 of the return.
My own opinion is that as I do not own the ETFs and am just betting on their increase in value there seems no need to use line 322 to report their "purchase" .
I will be grateful if anyone can give me a more expert opinion.
Thanks for all information, Nodo
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