Does TallyMoney automatically calculate and deduct capital gains tax for me?

No, TallyMoney does not deduct CGT and does not provide personal tax advice. We are planning on providing an end-of-tax year Realised Capital Gains/Loss Statement as a PDF that customers can access through their App from the end of April 2025. This statement will calculate the realised capital gain/loss for the prior tax year on the customer’s TallyMoney account. Any gain/loss should be included with any other capital gains/losses that should be calculated/reported to HMRC. It is each individual's responsibility to track and report gains or losses to HMRC. If you are unsure of what and how to declare to HMRC you should seek the advice of a tax specialist.