Costs not deducted from gains

[lexazver]

Can someone explain why in the capital gains report, in the EXPENSE SUMMARY there are costs that are not deducted from capital gains. “These are deductible costs that were not included in your capital gains, you may be able to deduct them elsewhere on your tax return.”

one line item just says COST
and another line item says Margin trade fee

Now when i look at the cost in the breakdown of the tax report, all of the costs are related to ETH transaction and HMRC clearly states that allowable deduction include :" * transaction fees paid for having the transaction included on the distributed ledger"

While Margin trade fee is a fee incurred when i made margin trades and sounds like it should have been deducted from the profits.

Koinly hasnt provided clear answer and the sum of those cots for me is £30k which is pretty punchy and would make quite a difference in my tax liability.

Thanks.

[sraftery]

I have seen this happen a lot as well, particularly with Eth fees for liquidity trades. Koinly seems to see these as separate transactions rather than as all one transaction.

I think you need to talk with your accountant and see whether all these fees can be included simply as a block of tax-deductible fees incurred solely for the purpose of the trades, or whether each one has to be linked with a particular trade.

[lexazver]

So, my accountant , having spoken to HMRC about this in principle had added these expenses as a separate expense item in cell 46 on capital gains form LOSSES SET AGAINST 2020-21 CAPITAL GAINS…i just filed my taxes couple of days ago…hoping hmrc doesnt come back with any questions.