Here we explain everything about what a contract note is and what it is used for.
A contract note (avräkningsnota) is a written confirmation of a share transaction. A contract note contains information including the transaction date, which shares the transaction concerned, the price per share and the total amount for all the shares you bought or sold, plus any brokerage fee (courtage).
Why are contract notes used?
A contract note is drawn up so that you can:
- prove that the share transaction took place
- declare the share transaction correctly to the Swedish Tax Agency (Skatteverket) or in your accounting software.
- prove that the shares have been paid for and that you own them.
What does a contract note contain?
When a contract note is created, it should contain the information we describe below.
Examples of information in a contract note
It should contain information on:
- Who bought or sold the shares.
- The number series of all shares in the transaction.
- The number of shares the transaction concerns.
- The transfer date of the share transaction.
- When the share transaction was completed.
- How the party that bought the shares paid for them.
- For a share transfer between private individuals, both parties' signatures.
- For a new share issue, the issuer's signature.
- The brokerage fee paid to the broker.
Frequently asked questions
What happens if I have lost my contract note?
If you have lost your contract note, it is a good idea to contact the company or private individual you carried out the share transaction with and ask for a copy of the note. Having a copy of the contract note is useful for several reasons, including being able to prove that the transaction took place and to declare it correctly.
When do I get my contract note?
Normally you get your contract note one or two days after the transaction has been completed if it concerns listed companies; if the transaction concerns unlisted companies, you get the contract note immediately so that you can complete your part of the transaction.
Is a contract note the same as an invoice?
No, a contract note is not the same as an invoice. An invoice is a receipt showing that payment for products has been made, whereas a contract note works as a receipt showing that a share transaction has taken place.
Can I get my contract note digitally?
Yes, you can normally get your contract note digitally, for example by email and/or under the "my pages" tab of the platform you trade on.
What happens if something is wrong with my contract note?
If something is wrong with your contract note, you should contact the issuer immediately to correct the error. If the contract note contains incorrect details, it may be invalid, for example as supporting documentation for the Swedish Tax Agency.
Should I keep my contract notes?
Yes, it is a good idea to keep your contract notes, for example in a binder or in online cloud storage. You may need your contract notes in the future, for example in an audit by the Swedish Tax Agency, so keeping these records is clearly recommended.
Does the contract note affect my tax return?
Yes, contract notes will very likely affect your tax return. If the notes show that you have made a gain on your shares, or perhaps a loss, this will affect how much tax you get back that year.
Do I get a contract note when buying unlisted shares?
Yes, you get a contract note when buying unlisted shares in the same way as you get a contract note when buying fund units and listed shares.
What is the difference between a contract note and an account statement?
A contract note and an account statement are not the same thing. The biggest difference is that a contract note is a detailed receipt showing that a financial transaction has taken place, whereas an account statement is a general confirmation that a transaction has been made on one of your accounts.
Should a contract note be digital or on paper?
A paper contract note is just as valid as a digital one, so it makes little difference. But almost all contract notes are digital, since delivering them digitally is the simplest, safest and cheapest option.
