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Post by snaggle on Jun 20, 2018 9:35:59 GMT
Has anyone received there 2017/18 tax statement yet from TC?
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Greenwood2
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Post by Greenwood2 on Jun 20, 2018 15:44:58 GMT
No, still waiting...
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bigfoot12
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Post by bigfoot12 on Jun 21, 2018 7:28:14 GMT
Two days ago I had an email about loan I am in and a provision that will be in the 2017/18 tax year. One might speculate that there are more of these still to do.
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alibaba
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Post by alibaba on Jun 21, 2018 8:57:11 GMT
I have had six syndicate updates in the last five days (all bad news) still waiting for the tax statement with bated breath, in answer to my last email TC said mid June for the statement.
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Post by snaggle on Jun 25, 2018 11:03:22 GMT
Thanks for info alibaba. Did they mean mid June next year. LOL
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alibaba
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Post by alibaba on Jul 3, 2018 10:26:34 GMT
Still waiting
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Greenwood2
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Post by Greenwood2 on Jul 9, 2018 12:42:05 GMT
Now being sent.
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alibaba
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Post by alibaba on Jul 12, 2018 10:30:18 GMT
Still no tax statement and no reply to my last two emails asking for an update.
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alibaba
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Post by alibaba on Jul 12, 2018 15:32:56 GMT
just arrived
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Post by GentlemansFamilyFinances on Jul 19, 2018 9:59:21 GMT
Red letter day.
Not great news overall. Can I straddle the bad debt over last and this tax year? I don't have enough tax to take advantage of the loss relief due to VCT subscriptions. the loans are considered irrecoverable - but can I decide when the loss relife is claimed?
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Greenwood2
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Post by Greenwood2 on Jul 19, 2018 10:13:00 GMT
I think you can carry forward to the next tax year. I don't think you can go backwards. You can disagree with the platforms assessment of irrecoverable, but be prepared to explain it to HMRC if necessary.
Edit: For best information I would post on the TC private forum.
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Post by GentlemansFamilyFinances on Jul 19, 2018 10:16:22 GMT
sadly, P2P losses are only eligible for relief on other P2P interest. that means you could end up in a never ending bad debt / tax relief loop - making new (bad) investments to get the tax relief!!!
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Greenwood2
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Post by Greenwood2 on Jul 19, 2018 10:23:37 GMT
You might hope that most years your overall P2P returns would be greater than your losses. But if you have other things you can offset against tax it might be a bit of a losing battle!
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 19, 2018 10:23:40 GMT
If you have earnt insufficient interest from P2P to absorb all claimable loss relief you can carry remaining relief forward for up to 4 years.
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Post by GentlemansFamilyFinances on Jul 19, 2018 10:35:43 GMT
that's great to know. any link to HMRC to check it out further?
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