pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Apr 5, 2019 18:04:35 GMT
MoneyThing I want to complain!! Just taken a peek at my tax statement for 18-19 and my recoveries are waaaay bigger than my new losses...this simply won't do, I'm going to have to pay much more tax now Seriously, well done...first for supporting us in being able to count the defaults in the first place and then making good progress in getting cash back again....rather better than we're seeing in some other corners. Keep it up!
|
|
averageguy
Member of DD Central
Posts: 1,165
Likes: 841
|
Post by averageguy on Apr 5, 2019 19:46:48 GMT
MoneyThing I want to complain!! Just taken a peek at my tax statement for 18-19 and my recoveries are waaaay bigger than my new losses...this simply won't do, I'm going to have to pay much more tax now Seriously, well done...first for supporting us in being able to count the defaults in the first place and then making good progress in getting cash back again....rather better than we're seeing in some other corners. Keep it up! Seconded!
|
|
|
Post by winger on Apr 7, 2019 16:52:02 GMT
But where do you find the detail behind the losses and recoveries figures?
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Apr 7, 2019 18:32:40 GMT
But where do you find the detail behind the losses and recoveries figures? If you want detail then suggest you compare the defaults page to your original records of how much you loaned. You don't need it for your tax return, unless you're only claiming some of the loss for some reason, in which case you're going to need your own records to keep track anyway
|
|
|
Post by winger on Apr 7, 2019 18:43:09 GMT
Thanks very much for your suggestion, but I really don't see why I should have to guess at how MT derived its figures. No combination of the figures shown on the defaults page adds up to the amount they are showing as "New defaults" on my Tax Statement. Similarly, I can't be sure what they considered as Defaults last year in order to try to figure out where the new Recovery number comes from. I will email them to ask for an explanation.
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Apr 7, 2019 20:42:29 GMT
Perhaps because they include any defaults even if they recover in the same tax year which has happened at least once. If you add up last + this years defaults, and then subtract last + this years recoveries the end total should be the same as your current defaults. Mine adds up anyway so their totals are the only ones I need for my tax return. I'm sure if you ask they'll be happy to help, but if you choose not to declare the whole amount you'll need to keep your own far more detailed records anyway.
|
|
archie
Posts: 1,838
Likes: 1,842
|
Post by archie on Apr 8, 2019 8:54:39 GMT
I have previously suggested they add a second page to the tax statement with a breakdown of defaults and recoveries.
My recoveries are from Lytham & Prestbury.
|
|