daveb
Member of DD Central
Posts: 236
Likes: 194
|
Post by daveb on Sept 24, 2021 11:02:13 GMT
Hello all I got this on my 20/21 tax statement. Does it mean the capital recovery should have been printed in red because it's negative, ie something they thought had recovered, now isn't? I've also been downloading a few MT tax statements for multi-year periods. The interest adds up perfectly, but the defaults and recoveries don't. Is that because the red capital recovery is really a default? Thanks
|
|
archie
Posts: 1,838 
Likes: 1,842
|
Post by archie on Sept 24, 2021 11:10:07 GMT
Hello all I got this on my 20/21 tax statement. Does it mean the capital recovery should have been printed in red because it's negative, ie something they thought had recovered, now isn't? I've also been downloading a few MT tax statements for multi-year periods. The interest adds up perfectly, but the defaults and recoveries don't. Is that because the red capital recovery is really a default? Thanks
Recovered should be recovered from a previous default. Never had a negative recovery.  For completed losses see My Loans>Crystallised Losses.
|
|
daveb
Member of DD Central
Posts: 236
Likes: 194
|
Post by daveb on Sept 24, 2021 11:58:53 GMT
thanks The trouble is I only have one crystallised loss and a whole stack of defaults. I suppose it depends on whether one feels any optimism about recovery, and whether income and tax bands are rising or falling.
|
|
archie
Posts: 1,838
Likes: 1,842
|
Post by archie on Sept 24, 2021 12:15:35 GMT
thanks The trouble is I only have one crystallised loss and a whole stack of defaults. I suppose it depends on whether one feels any optimism about recovery, and whether income and tax bands are rising or falling.
93% of mine, by value, are in default. 
|
|
daveb
Member of DD Central
Posts: 236
Likes: 194
|
Post by daveb on Sept 24, 2021 12:31:16 GMT
I think I've got to the bottom of this. When I search for a multi-year tax statement, sometimes the negative "capital recovery" this year is deducted from the total of capital recoveries, other times it is added to the defaults. It does at least make it clear that it's a default.
|
|
withnell
Member of DD Central
Posts: 550
Likes: 491
|
Post by withnell on Sept 24, 2021 12:34:57 GMT
I think I've got to the bottom of this. When I search for a multi-year tax statement, sometimes the negative "capital recovery" this year is deducted from the total of capital recoveries, other times it is added to the defaults. It does at least make it clear that it's a default.
MT were one of the few platforms to actually accept that loans had entered default and state them as such, but would then recover amounts - so yes you'll have +ve and -ve figures dependant on your loans across the years
|
|
