How long should UK traders keep trading records for HMRC?

As a general rule, HMRC expects individuals to keep records supporting a tax return for at least 22 months after the end of the relevant tax year, and longer (around five years after the filing deadline) if you're self-employed or run a trading business. Rules can change and your situation may differ, so confirm current requirements with HMRC or an accountant before relying on any specific timeframe.

Do I need to keep records if spread betting is tax-free for me?

Even where spread betting gains aren't currently taxed as capital gains for most UK retail traders, it's still sensible to keep records. HMRC can ask questions about your trading pattern, frequency and intent, and good records help you demonstrate your position clearly. This is general information, not a guarantee of tax treatment - confirm your own status with a professional.

What's the difference between record-keeping for CFDs and spread betting?

CFD gains and losses are generally treated differently from spread betting for UK tax purposes, often falling under Capital Gains Tax rules with allowable losses and costs. Because treatment depends on your individual circumstances and current HMRC guidance, keep clear records showing which product you used for each trade so your accountant can apply the right treatment.

Can I just rely on my broker's year-end statement?

Broker statements are a useful starting point but rarely tell the whole story - they may not clearly separate spread betting from CFD activity, may not survive a platform migration, and won't capture your own notes on strategy or intent. Keep your own parallel log alongside broker exports.

What trading costs should I record alongside my trades?

Record spreads paid, commissions, overnight financing/swap charges, currency conversion fees, and any platform or inactivity fees. These can matter for understanding your true trading costs and, depending on your tax treatment, may be relevant to what you report. Use a tool like PipTax's cost audit to see the full cost picture per trade.

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Record-Keeping for UK Traders: What to Keep for HMRC

Updated 14 July 2026 · 7 min read · PipTax education

Illustration of a trader organising folders, spreadsheets and broker statements on a desk with charts in the background

Record-keeping for UK traders is one of those jobs that feels optional right up until the moment HMRC, your accountant, or your own memory needs proof of what actually happened in your account. Whether you spread bet, trade CFDs, or hold shares, the habit of saving the right documents as you go is far less painful than trying to reconstruct a year of trading from scratch in January.

This article is general educational information about record-keeping practices commonly relevant to UK traders. It is not tax, legal or financial advice. UK tax treatment depends on your personal circumstances, how HMRC classifies your activity, and current rules that can change. Always confirm your own position with a qualified accountant or HMRC before making decisions.

Why record-keeping for UK traders actually matters

Good records exist for three practical reasons, regardless of how your trading ends up being taxed:

Proof, not memory. A year from now you won't remember why you closed a trade or what the spread was. A record does.
Speed. If HMRC opens an enquiry, or you switch accountants, having organised records turns a stressful multi-week task into an afternoon.
Clarity on product type. Spread betting, CFDs and share dealing can attract different tax treatment. Records that clearly show which product each trade used help whoever prepares your return apply the right approach.

It's tempting to assume "I'll sort it out at year-end using my broker statement." In practice, broker statements are a helpful starting point but are rarely a complete answer on their own - especially if you've switched brokers, used more than one platform, or traded across spread betting and CFD accounts in the same tax year.

The goal isn't to become an amateur tax adviser. It's to make sure that whoever does advise you - ideally a qualified accountant - has everything they need, and that you're not relying on a platform's data retention policy to preserve your own history.

What documents to actually keep

At minimum, keep copies (PDF or exported CSV, stored somewhere outside the broker platform itself) of:

Trade confirmations - individual execution reports showing instrument, direction, size, price, time, and any commission charged.
Monthly and annual account statements from every broker you've used.
Deposit and withdrawal records, including bank references, so you can reconcile cash movements against trading activity.
Swap/financing charge summaries for positions held overnight.
Currency conversion statements if you trade instruments denominated in a currency other than GBP.
Platform migration or account closure notices - brokers do sometimes change back-end systems, and historical data can become harder to access later.
Your own notes on strategy, why a position was entered or closed, and whether it was speculative or part of a more business-like pattern of activity.

Where possible, export data in a portable format (CSV/Excel) rather than relying solely on screenshots, which are harder to search and easy to lose.

Building a simple trading log

A trading log doesn't need to be complicated - it needs to be consistent. A basic spreadsheet with one row per trade, updated weekly rather than left until year-end, is usually enough for most retail traders. Suggested columns:

| Field | Why it matters | |---|---| | Date/time | Establishes the tax year and sequence of events | | Instrument | Confirms what was traded | | Product type | Spread bet, CFD, or share dealing - treatment may differ | | Size/units | Needed to check position sizing and costs | | Entry/exit price | Basis for P&L calculation | | Costs (spread, commission, swap) | Supports understanding of true trading costs | | Realised P&L | The headline result of the trade | | Notes | Strategy, reasoning, anything unusual |

If you want a clearer picture of what trading costs look like across brokers and account types before you even get to tax time, PipTax's [cost audit tool](/audit.html) and [live rates page](/rates.html) can help you see spreads, commissions and financing costs side by side - useful context to have alongside your own log.

Spread betting, CFDs, and why product type matters for your records

UK tax treatment can differ significantly depending on whether you're spread betting, trading CFDs, or dealing in shares directly. This is genuinely one of the more nuanced areas of UK trading tax, and outcomes depend on factors like:

Whether trading is your main source of income or a side activity
The frequency and organisation of your trading (is it more like a business?)
Current HMRC guidance, which is periodically updated

Because of this, your records should make it easy to separate activity by product type - don't mix spread betting and CFD trades in the same undifferentiated log. If you use both Pepperstone and IG, for example, keep each account's exports clearly labelled by broker and product type, so nothing gets blended together by accident.

None of this article should be read as confirming how *your* trading will be taxed. That determination sits with HMRC's rules as applied to your specific facts, and it's exactly the kind of question a qualified accountant should confirm before you file anything.

How long to keep records

General HMRC guidance for individuals is to keep records supporting a tax return for at least 22 months after the end of the tax year it relates to. If you're self-employed or your trading is treated as a business, the expectation is typically longer - commonly cited as around five years after the 31 January filing deadline. These figures can change, and your correct retention period depends on your circumstances, so treat this as a starting point for a conversation with HMRC or your accountant, not a final answer.

A practical habit: keep everything for at least six years as a safety margin, stored in at least two places (e.g. cloud storage and a local backup). Storage is cheap; reconstructing lost records is not.

Common record-keeping mistakes to avoid

Relying only on the broker's app. Exports and statements can disappear behind login walls after account closure or platform migration.
Screenshots instead of exportable data. Fine as a backup, poor as a primary record - you can't easily total up a folder of screenshots.
Mixing account types in one log. Keep spread betting, CFD and share dealing activity clearly separated.
Ignoring small costs. Swap charges and currency conversion fees add up and may matter for your overall picture - check them via each broker's own disclosures or PipTax's [broker pages](/brokers/index.html).
Waiting until tax season. A five-minute weekly update beats an eight-hour January scramble.

Bringing it together

Solid record-keeping for UK traders isn't about becoming a tax expert - it's about making sure the information exists, is organised, and is easy to hand over when someone qualified needs to look at it. Save trade confirmations and statements as you go, keep a simple consistent log, separate activity by product type, and hold onto everything for several years longer than you think you'll need. For a broader grounding in trading costs and mechanics, PipTax's [school section](/school/index.html) has further guides, and the [cost audit tool](/audit.html) can help you understand what you're actually paying across brokers.

Finally, and worth repeating: this article is general education, not tax advice. UK tax rules affecting traders can be complex and do change, and your correct treatment depends on your own circumstances. Please confirm your specific position with a qualified accountant or directly with HMRC before making any tax-related decisions.

Key takeaways

Good record-keeping for UK traders means saving every trade confirmation, statement and cost breakdown from day one, not scrambling at year-end.
HMRC generally expects records kept for at least 22 months after the end of the tax year they relate to (longer if you're in business or under enquiry) - always confirm current limits with HMRC or an accountant.
Spread betting, CFDs and share dealing can be treated very differently for tax purposes, so keep records that clearly show which product type each trade used.
A simple, consistent trading log (date, instrument, size, entry/exit, costs, P&L) makes any future tax return or HMRC query far quicker to deal with.
Broker statements alone often aren't enough - keep your own reconciliation so you can explain gaps, corporate actions, or platform migrations.
This article is general education, not tax advice - your situation depends on your facts and current HMRC rules, so check with a qualified accountant or HMRC directly.

Want the real number for how you trade? Audit your MT4/MT5 statement free — see your true all-in cost and the genuinely cheapest broker for your style.

Frequently asked questions

How long should UK traders keep trading records for HMRC?: As a general rule, HMRC expects individuals to keep records supporting a tax return for at least 22 months after the end of the relevant tax year, and longer (around five years after the filing deadline) if you're self-employed or run a trading business. Rules can change and your situation may differ, so confirm current requirements with HMRC or an accountant before relying on any specific timeframe.
Do I need to keep records if spread betting is tax-free for me?: Even where spread betting gains aren't currently taxed as capital gains for most UK retail traders, it's still sensible to keep records. HMRC can ask questions about your trading pattern, frequency and intent, and good records help you demonstrate your position clearly. This is general information, not a guarantee of tax treatment - confirm your own status with a professional.
What's the difference between record-keeping for CFDs and spread betting?: CFD gains and losses are generally treated differently from spread betting for UK tax purposes, often falling under Capital Gains Tax rules with allowable losses and costs. Because treatment depends on your individual circumstances and current HMRC guidance, keep clear records showing which product you used for each trade so your accountant can apply the right treatment.
Can I just rely on my broker's year-end statement?: Broker statements are a useful starting point but rarely tell the whole story - they may not clearly separate spread betting from CFD activity, may not survive a platform migration, and won't capture your own notes on strategy or intent. Keep your own parallel log alongside broker exports.
What trading costs should I record alongside my trades?: Record spreads paid, commissions, overnight financing/swap charges, currency conversion fees, and any platform or inactivity fees. These can matter for understanding your true trading costs and, depending on your tax treatment, may be relevant to what you report. Use a tool like PipTax's cost audit to see the full cost picture per trade.

Keep going: Audit Rates Index Index