shimself
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Post by shimself on Mar 23, 2020 16:23:00 GMT
It has come to the Joint Administrators’ attention that there may be issues with the Tax
Statements which appear in Investors Accounts. You must note that Tax Statements
CANNOT be relied upon for tax purposes. Individual Investors must also note that they are
responsible for their own tax review, returns and submissions. The Joint Administrators do
not have any responsibility, nor will they incur any liability, whatsoever in connection with
the Tax Statements, Investors’ tax affairs (of any kind) nor the tax status of Investors.
Does anyone have a clue as to what sort of errors we might be seeing or how we might be expected to produce good figures?
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duck
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Post by duck on Mar 23, 2020 17:35:31 GMT
....
.... or how we might be expected to produce good figures?
Download transactions into a spreadsheet and take it from there. A simple formula will drag out the interest e.g =IF(ISNUMBER(SEARCH("Interest",A1672)),D1672,0) were the first number refers to the cell containing text i.e "Interest earned from loan xyz" the second number extracts the value of the interest and if the first column doesn't show 'interest' a value of 0 will be returned. Copy this formula down for all transactions for the year, total and that is your interest. Capital losses can be extracted in a similar way but I do that manually, this can be important if you were active on the aftermarket.
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shimself
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Post by shimself on Mar 23, 2020 19:00:08 GMT
....
.... or how we might be expected to produce good figures?
Download transactions into a spreadsheet and take it from there. A simple formula will drag out the interest e.g =IF(ISNUMBER(SEARCH("Interest",A1672)),D1672,0) were the first number refers to the cell containing text i.e "Interest earned from loan xyz" the second number extracts the value of the interest and if the first column doesn't show 'interest' a value of 0 will be returned. Copy this formula down for all transactions for the year, total and that is your interest. Capital losses can be extracted in a similar way but I do that manually, this can be important if you were active on the aftermarket. Well yes, and actually that gives the same result for me. (I just ordered the spreadsheet by caption, but same thing). I was thinking that it was worse than that, that some things were not recorded or were mis-recorded
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duck
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Post by duck on Mar 24, 2020 4:40:09 GMT
Well yes, and actually that gives the same result for me. (I just ordered the spreadsheet by caption, but same thing). I was thinking that it was worse than that, that some things were not recorded or were mis-recorded My spreadsheet and the Tax Statement fell out of sync with the first couple of entries made after the administrators took over. I didn't bother to look into it in detail but one of the issues is entries such as "CG recovery fee from loan XYZ" that should be deducted from any interest paid (or be deducted from any Capital as a loss if no interest paid) didn't seem to be taken into account. I stopped my automated spreadsheet at the point CG took over since 'random' statements such as the one above were not taken into account and interest would be overstated. I am now manually entering the calcs as loans are repaid (hardly a big job) and any interest will be added to the figures taken from the automated part of the spreadsheet.
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