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Post by popeye on Apr 18, 2020 11:51:57 GMT
Hello
2019/20 tax statements are now available online. As I sold some of my loans, I have a deduction for "Fees paid" shown on my statement. Does anyone know if that can be netted off against "Interest received" for my tax return? My reading of HMRC guidance is that only losses can be offset but, as fees aren't mentioned at all, I thought I'd check here.
Thank you
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Post by decleoro on May 1, 2020 12:04:48 GMT
I think I would deduct it. After all your income is less. I have a loan sale pending and that's what I will do.
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Post by madmitch on Apr 20, 2021 14:31:52 GMT
Just decided to resurrect this thread.
I contacted LW CS about 20/21 statements......apparently there has been a 'bug in the software' so there has been a delay. They are hoping to have completed their checking process by the end of next week.
It will be interesting(pun intended!) to see what has actually been earned.
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qwakuk
Member of DD Central
Posts: 259 
Likes: 96
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Post by qwakuk on Apr 20, 2021 15:47:41 GMT
Just decided to resurrect this thread.
I contacted LW CS about 20/21 statements......apparently there has been a 'bug in the software' so there has been a delay. They are hoping to have completed their checking process by the end of next week.
It will be interesting(pun intended!) to see what has actually been earned.
I was told the same, checked earlier and nothing !
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Post by indexfund on Apr 24, 2021 11:04:31 GMT
Chased LW a week ago about the 20/21 paperwork and had the same response, wrapped up in some excuse about the changes LW has gone through meaning they have to check everything through, or something like that! Anyway, I have just chased again as it will be three weeks past the end of tax year on monday and LW are now easily the slowest to get the y/e statements out. In fact they are the slowest of any of the 30plus platforms/banks/investment houses that my IFA and accountant deal with.... Not good enough...again!
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Post by indexfund on Apr 30, 2021 16:12:16 GMT
Another week has passed and still no annual statement, this is getting ridiculous now.
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Post by fredblogs on Apr 30, 2021 20:21:42 GMT
Another week has passed and still no annual statement, this is getting ridiculous now. Not only no annual statements but I have only received a monthly statement for the classic in April and nothing for the ISA. I have called them and warned them that this is not acceptable as I have no record of how much they have taken in negative interest and no means to monitor whether their figures are correct as they have been constantly wrong in recent months. I've explained that we need the annual statements for our tax returns, which you would have thought they would be aware of. The guy who I spoke to claimed to have no knowledge of the statements not being submitted and had no idea how to deal with it, which is a bit strange considering how many lenders have queried it in recent weeks. I can only assume that they have lost control of their business and don't seem to be bothered with fixing it. This degree of corporate negligence is a matter for the FCA.
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Post by indexfund on May 1, 2021 9:51:53 GMT
Another week has passed and still no annual statement, this is getting ridiculous now. Not only no annual statements but I have only received a monthly statement for the classic in April and nothing for the ISA. I have called them and warned them that this is not acceptable as I have no record of how much they have taken in negative interest and no means to monitor whether their figures are correct as they have been constantly wrong in recent months. I've explained that we need the annual statements for our tax returns, which you would have thought they would be aware of. The guy who I spoke to claimed to have no knowledge of the statements not being submitted and had no idea how to deal with it, which is a bit strange considering how many lenders have queried it in recent weeks. I can only assume that they have lost control of their business and don't seem to be bothered with fixing it. This degree of corporate negligence is a matter for the FCA. It's certainly telling that of all the myriad statements I have to collect for my fiscal and accounting year end, Lendingworks are now the only one who have not issued anything. I agree, there must be huge issues there, possibly loss of data...who knows. It is a worry as I still have some funds there.
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pom
Member of DD Central
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Post by pom on May 1, 2021 10:44:15 GMT
I had an email around 4am saying now available.....(classic only for me anyway)
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Post by indexfund on May 1, 2021 11:57:14 GMT
I had an email around 4am saying now available.....(classic only for me anyway) Finally have it! Secure message at 10.31am this morning.
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Post by markymark on May 1, 2021 20:09:05 GMT
Another week has passed and still no annual statement, this is getting ridiculous now. Not only no annual statements but I have only received a monthly statement for the classic in April and nothing for the ISA. I have called them and warned them that this is not acceptable as I have no record of how much they have taken in negative interest and no means to monitor whether their figures are correct as they have been constantly wrong in recent months. I've explained that we need the annual statements for our tax returns, which you would have thought they would be aware of. The guy who I spoke to claimed to have no knowledge of the statements not being submitted and had no idea how to deal with it, which is a bit strange considering how many lenders have queried it in recent weeks. I can only assume that they have lost control of their business and don't seem to be bothered with fixing it. This degree of corporate negligence is a matter for the FCA.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on May 1, 2021 20:17:02 GMT
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Post by markymark on May 1, 2021 20:25:50 GMT
Oh, I DO like the cut of your jib markymark !  Thanks, just hope i can make people realize how we're exploited in this country.
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scooter
Member of DD Central
Posts: 403
Likes: 379
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Post by scooter on May 2, 2021 8:42:16 GMT
Not only no annual statements but I have only received a monthly statement for the classic in April and nothing for the ISA. I have called them and warned them that this is not acceptable as I have no record of how much they have taken in negative interest and no means to monitor whether their figures are correct as they have been constantly wrong in recent months. I've explained that we need the annual statements for our tax returns, which you would have thought they would be aware of. The guy who I spoke to claimed to have no knowledge of the statements not being submitted and had no idea how to deal with it, which is a bit strange considering how many lenders have queried it in recent weeks. I can only assume that they have lost control of their business and don't seem to be bothered with fixing it. This degree of corporate negligence is a matter for the FCA. We do not have any association/protection in the UK, that investigates immoral/exploiting/untrustworthy businesses, so please stop thinking of the FCA, as some sort of savior or knight in shining Armour, that's gonna save the day....Because i can assure you they won't....They are not fit for purpose, they do not NEVER financially compensate or investigate consumer complaints, unless otherwise, government enforced or media motivated. They are a business for profit, and have no interest in acting, as their name suggests, on behalf of any mugs who invests with companies like Lending Works. It is a disgrace that a that this money making enterprise (like so many in the UK) can even be allowed, to use the name 'Financial Conduct Authority' as this is totally misleading for us consumer/mugs.....Please don't just take my word for it, go to Trust Pilot and search for the Financial Conduct Authority or F CA reviews. Please stop using threats of contacting the FCA on this site against Lending Works, they know they are a joke and will only see it as hilarious threat. Agreed about FCA. in LW defence how many big banks with unlimited resources have produced their statements yet? I never manage to get all mine until about July. Who does their tax return in April anyway......
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mickj
Member of DD Central
Posts: 435
Likes: 191
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Post by mickj on May 2, 2021 11:34:06 GMT
I had an email around 4am saying now available.....(classic only for me anyway) Cannot find anything on my Classic pages, I go to Statements, pick year but only 18>19 & 19>20, I may be looking in the wrong place or is it email only ?
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