Greenwood2
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Post by Greenwood2 on Apr 17, 2018 10:10:04 GMT
Neither had I until I did! They didn't seem to have details of losses from some sites, or they chose not to share them.
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jnm21
Posts: 441
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Post by jnm21 on Apr 26, 2018 11:33:22 GMT
I too would like to have the tax statement asap, however can I please ask where the 3 month wait is mentioned i.e. was it a quote directly from RS? On the statement page it merely says, available soon. In previous years that has meant 2-4 weeks. My wife is getting available soon (still an active RS account), I emailed them (having taken up the fee free sell out & been promised a tax statement in April, yet heard nothing) hoping to have them by end of May! Not impressed, just when I was thinking to come back! Is there an RateSetter on here now? EDIT: I see that true to their word RS are not active on here - I just read ALL of their posts - all 2 of them! Another reason to stay away IMHO.
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ashtondav
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Post by ashtondav on Apr 27, 2018 15:53:47 GMT
Give them a telephone call?
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aem
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Post by aem on May 14, 2018 15:54:25 GMT
I tried calling RateSetter today for an update on when the tax statements are expected to be available but gave up after being on hold for too long. Has anyone managed to get an update recently? This is the last tax statement I am waiting on, every other company I deal with have delivered theirs so I'm not impressed especially with the lack of updates on RateSetter's own website.
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ashtondav
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Post by ashtondav on May 14, 2018 17:10:48 GMT
I think the mandatory date is the end of May, which is not unreasonable.
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Post by aroominyork on May 24, 2018 14:49:28 GMT
I phoned yesterday. They hope they'll be available in the next few weeks but in reality their story hasn't changed for a month or two.
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Post by geofff on May 25, 2018 16:40:12 GMT
I was told in early April I'd have my Ratesetter tax statement soon; Later in April, I was told I'd have it in May; Now it seems its perhaps June?
P2p lending seem to rely on trust and openness more than other financial businesses, due to their relative lack of regulation. And lenders, outside the government's £85k compensation system, should expect p2ps to be far more open with them than other businesses.
After such a long delay I think we'd deserve more than to be fobbed off with that mealy-mouthed statement that they are 'enhancing' our tax returns. (are they crafting them with quill pens & hand-glueing swarovski crystals on them?). I'd have thought that a tax statement is a simple statement of fact about transactions that have already happened, and not something that can be amended (or 'enhanced') well into the next tax year? The truth about ratesetter's problem is hopefully far less damaging than leaving customers to imagine the grim reasons why they might be prevented from telling us what our past earning were?
I'd ask Ratesetter on their blog, but it's apparently; 'currently unavailable'. Hopefully an unrelated problem?
I must put in my tax return early to receive rebates and get prepaid tax repaid, so Ratesetter's mystery is costing me dearly. All 14 other businesses sent me returns by mid April. One of Ratesetter's p2p competitors even managed this 1h 50m after midnight at the start of the tax year.
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jlend
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Post by jlend on May 25, 2018 17:04:42 GMT
Am guessing it is not simple.
We are making the adjustments to the statements as we are aware a number of different loans are now handled differently. The new statements will show a number of figures and will provide a detailed breakdown of each area of interest earned.
As we are still finalising the statements, I cannot comment at this stage wither the Property developer loans mentioned will be listed however, the statements we provide will be signed off by HMRC and FCA so if they require this information it will be included.
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spiral
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Post by spiral on May 27, 2018 9:01:02 GMT
I've never understood why these things take so long. I'm still awaiting my interest certificate from TSB and Bank of Scotland in addition to RS. Last year I received these both in July.
The latest I've ever received one (In the day's when tax was deducted at source) was August Bank holiday week!
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Post by biscuit on May 29, 2018 9:21:48 GMT
I've never understood why these things take so long. I'm still awaiting my interest certificate from TSB and Bank of Scotland in addition to RS. Last year I received these both in July.
The latest I've ever received one (In the day's when tax was deducted at source) was August Bank holiday week!
Called RS today and advised Tax Certs will be available on or around the 6th June. About time as well, though somewhat concerned about the so called "Enhancement"
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jlend
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Post by jlend on May 29, 2018 9:29:02 GMT
I've never understood why these things take so long. I'm still awaiting my interest certificate from TSB and Bank of Scotland in addition to RS. Last year I received these both in July.
The latest I've ever received one (In the day's when tax was deducted at source) was August Bank holiday week!
Called RS today and advised Tax Certs will be available on or around the 6th June. About time as well, though somewhat concerned about the so called "Enhancement" Interesting. So around the same time as the change to the reinvestment settings on the rolling market. A coincidence?
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jlend
Member of DD Central
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Post by jlend on May 29, 2018 10:33:35 GMT
I've never understood why these things take so long. I'm still awaiting my interest certificate from TSB and Bank of Scotland in addition to RS. Last year I received these both in July.
The latest I've ever received one (In the day's when tax was deducted at source) was August Bank holiday week!
Called RS today and advised Tax Certs will be available on or around the 6th June. About time as well, though somewhat concerned about the so called "Enhancement" They have hinted about providing a breakdown of the different areas of interest earned. Perhaps some of the following info? 1. Interest paid by borrowers 2. Interest covered by a payment from the provision fund 3. Interest covered by a payment from RS (ADPOD loan) 4. Some personalised info on defaulted loans that are being covered 5. A breakdown of interest by market (rolling, 1 year, 3 year, 5 year) The new statement may provide some clues about how some other platforms may have to present their figures in the future as the statements are being signed off by hmrc and the fca prior to publication which appears to be a first. For example it may inform what Grant Thornton suggest to Assetz Capital in the review they are currently conducting of the AC tax returns.
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Post by Deleted on Jun 1, 2018 16:18:00 GMT
Putting it simply, !
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jlend
Member of DD Central
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Post by jlend on Jun 6, 2018 8:19:04 GMT
I've never understood why these things take so long. I'm still awaiting my interest certificate from TSB and Bank of Scotland in addition to RS. Last year I received these both in July.
The latest I've ever received one (In the day's when tax was deducted at source) was August Bank holiday week!
Called RS today and advised Tax Certs will be available on or around the 6th June. About time as well, though somewhat concerned about the so called "Enhancement" Not available today on 6th June, but I see the holding statement on the website now says We’re enhancing the RateSetter account tax statements and expect 2017/18 tax statements to be available by June. We’ll be in touch when you can download your tax statement.
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aem
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Post by aem on Jun 7, 2018 12:34:27 GMT
Not available today on 6th June, but I see the holding statement on the website now says We’re enhancing the RateSetter account tax statements and expect 2017/18 tax statements to be available by June. We’ll be in touch when you can download your tax statement. The holding statement was updated a couple of weeks ago and it's no surprise that they have missed the date again. Really, really poor from RateSetter.
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