You may want an accountant if…
- Trading could be seen as a business by HMRC
- You have large or numerous CFD gains and losses
- You receive prop-firm payouts or other trading income
- You use overseas brokers or several currencies
- You've missed reporting in previous years
When you can probably do it yourself
If you're employed, only trade CFDs or spread bets occasionally, and your broker provides a clear annual statement, you can usually complete the capital gains pages of Self Assessment yourself — or you may have nothing to report if gains are under £3,000 and proceeds under £50,000.
Situations that get complicated
- Income vs capital: HMRC's "badges of trade" decide whether profits are taxed as income.
- Loss relief: claiming and carrying forward losses correctly.
- Mixed products: spread betting, CFDs, shares and crypto in the same year.
- Foreign entities: statements in other currencies and reporting overseas income.
- Prop-firm payouts: often treated as self-employment income.
How to choose an accountant
- Look for a qualified accountant or chartered tax adviser.
- Ask whether they've worked with traders and capital gains before.
- Get a written fixed fee and scope.
- Bring broker statements, deposit and withdrawal records and prior-year returns.
Frequently asked questions
How much does a tax accountant cost?
Fees vary widely with complexity and location. Ask for a fixed quote for a Self Assessment return including capital gains.
Can I claim the accountant's fee as an expense?
Generally not against capital gains for a private investor. Ask your adviser about your specific position.
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading these products. You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money. Content is general information, not financial or tax advice.