Near the end of the self assesment form there is a section which has heading like - Cost of acquiring assets - it has different categories shares, houses, agricultural land ... etc
My question is, is this the total cost of acquiring the assest such as total cost of shares purchased or just the cost of actually acquiring the asset ( excluding the cost of the asset itself) like brokers fees, My understanding is that it is the total cost.
Also what would be the reasoning for such a section , revenue does not specifically ask you anywhere what assets you own but only what income has been generated from your assets, this has made this section confusing as then why would they need to know the total cost of assets purchased in the year but not ask the value of assets you already own
My question is, is this the total cost of acquiring the assest such as total cost of shares purchased or just the cost of actually acquiring the asset ( excluding the cost of the asset itself) like brokers fees, My understanding is that it is the total cost.
Also what would be the reasoning for such a section , revenue does not specifically ask you anywhere what assets you own but only what income has been generated from your assets, this has made this section confusing as then why would they need to know the total cost of assets purchased in the year but not ask the value of assets you already own