I have a lot of transactions and for some reason, under Income, I have a very large number… Is this figure included in the calculated tax amount?
So I have multiple wallets/exchanges connected and here is my example data:
|Total disposals|9493|
|Disposal proceeds|2,333,446.26|
|Allowable costs|2,176,927.87|
|Profits, before losses |£206,555|
|Losses|106,072|
|Net gains|99,893|
So I just pay tax on my net gains here, which makes sense, however, my total income is very high:
|Total Income|£744,892.61|
So I want to make sure this is somehow included in calculating my net gains, as I definitely didn’t make that much money! Also, is it an issue that this is so high?
Thanks in advance if you can offer any help!