How does the wash sale rule effect day traders in the UK? Trading equities and basic options. Say this month I have tradedTSLA over 100 times, but I am close to break even as of now. Does that mean I could owe a ton of tax? Please use the above example for trading equities and options. Thank you for your time and help.
The UK allows lot averaging which changes the equation totally and kind of evens out the calculation, but you should still consult a UK tax guru.
Maybe there is a UK version of Tradelog? Wash-sales headaches is supposed to be one of the primary reason people pay for the subscription. http://www.tradelogsoftware.com/pricing