Saxo Bank UK Capital Gains Tax Calculator

Saxo Bank (Saxo Markets in the UK) is a professional-grade trading and investment platform that provides access to a wide range of instruments, including shares, ETFs, bonds, options, and futures across global exchanges. UK-based Saxo users who trade within a standard investment account (outside of an ISA) may be liable for UK capital gains tax on profits from selling their holdings. FiscalFox reads supported Saxo transaction reports, applies HMRC's share-matching sequence, and produces reviewable capital gains workings.

How to download your Saxo transaction history

Saxo provides comprehensive transaction reports that can be exported as Excel files. Follow these steps to download yours:

1. Log in to your Saxo account through the SaxoTraderGO platform or at saxomarkets.com.
2. Navigate to Account from the main menu.
3. Click on Reports to access the report generation area.
4. Select Transaction History (sometimes labelled "Trade Confirmations" or "Account Statement" depending on the report type).
5. Set the date range to cover the period you need. For the most accurate CGT calculation, include your full trading history from your earliest trade through 5 May after the completed tax year ends. This supplies the Section 104 pool history and purchases within 30 days of year-end sales; the report still covers only the selected year.
6. Click Download XLSX to export the report as an Excel file.
7. Save the .xlsx file to your computer.

With your file ready, open the FiscalFox calculator, select Saxo as your broker, and upload the XLSX file to start your capital gains calculation.

File format details

Saxo exports transaction data as an Excel XLSX file. Upload the full Transactions workbook for account activity, or a stock-only workbook containing Trades and its matching Bookings sheet with GBP amounts. The Bookings sheet separates share consideration from commission and exchange fees. A foreign-currency Trades-only export needs explicit GBP fees and currency conversion costs; rounded exchange rates alone cannot establish that breakdown. The transaction report typically contains the following information:

• Trade Date -- the date the order was executed
• Value Date -- the settlement date of the transaction
• Instrument -- the name and identifier of the security
• ISIN -- the International Securities Identification Number
• Trade Type -- Buy or Sell
• Quantity -- the number of shares or units traded
• Price -- the execution price per unit
• Trade Currency -- the currency in which the trade was executed (e.g., GBP, USD, EUR)
• Trade Value -- the total value of the trade in the trade currency
• Exchange Rate -- the FX rate used for non-GBP trades
• Commission -- brokerage fees charged on the transaction
• Other Costs -- any additional fees, such as exchange fees or stamp duty
• Product Type -- the type of instrument (e.g., Stock, ETF, Bond, Option)

FiscalFox parses this file in your browser where possible. A copy is also kept privately for support and troubleshooting, whether or not you are signed in, normally for 14 days, with the exceptions explained in our privacy policy.

How FiscalFox processes your Saxo data

When you upload your Saxo XLSX file, FiscalFox parses all transactions, converts non-GBP amounts to sterling, and applies HMRC's share matching rules in the correct order:

1. Same-day rule -- shares of the same security bought and sold on the same calendar day are matched first. The gain or loss is calculated using the actual cost from that day's purchase.
2. 30-day bed and breakfast rule -- if you sold a holding and repurchased the same security within 30 days, the disposal is matched against the repurchase rather than the Section 104 pool.
3. Section 104 pool -- all remaining disposals are matched against the pooled average cost for each security. FiscalFox builds and maintains a separate pool for each instrument based on your full transaction history.

For multi-currency transactions, FiscalFox converts both the acquisition cost and the disposal proceeds to GBP using the exchange rates from the Saxo report. This ensures that your gains are calculated in sterling as required by HMRC. The final report includes individual disposal computations with full details of matching rules applied, cost bases, and gains or losses, along with a summary suitable for completing your Self Assessment.

Common issues with Saxo files

Multi-currency transactions

Saxo users frequently trade on international exchanges in multiple currencies. This means a single portfolio may contain GBP, USD, EUR, and other currency-denominated holdings. FiscalFox handles this by converting all amounts to GBP using the exchange rate provided in the Saxo export for each transaction. Note that currency fluctuations between the purchase and sale dates can themselves create gains or losses -- this is built into the GBP conversion and is correctly reflected in your CGT calculation.

Different product types in the same report

Saxo's transaction report may contain several product types. FiscalFox supports shares, ETFs and long options in the full workbook; the stock-only Trades and Bookings layout supports shares and ETFs. A workbook containing CFDs, futures, FX spot or written-option lifecycle activity needs separate review. For supported share activity, use a stock-only export with both Trades and Bookings.

Corporate actions

If any of your Saxo holdings have been subject to corporate actions such as stock splits, mergers, or rights issues during the period covered by your report, these events will appear in the transaction history. FiscalFox recognises common corporate action types and adjusts the Section 104 pool accordingly. For example, a 2-for-1 stock split will double the number of shares in the pool while halving the cost per share, keeping the total cost base the same.

Supported transaction types

FiscalFox extracts and processes the following transaction types from your Saxo transaction report:

Saxo's detailed transaction reports provide all the information FiscalFox needs for thorough CGT calculations, even for complex multi-currency, multi-instrument portfolios. If you have questions about how specific Saxo transactions are handled or encounter any issues with your export file, visit our support page for assistance.