Quote Originally Posted by Jay View Post
Sorry I forgot to mention that I complete the tax return on a cash basis, therefore only have to worry about what I have sold, not what is remaining.

But would have to agree with both you Aaron and HS be consistent, just not sure what that is yet.
Unless you are a barrister or doctor, Jay I think you have to account for business income on an accrual basis which would include valuing closing stock. The cash basis is applicable to salary and wage earners and dividends can be returned when received rather than the ex date but trading would be a business activity which requires accrual accounting.
Don't take my word for it though, it might pay to get some professional advice if the amounts you are trading are significant.