aju
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Post by aju on Jul 29, 2021 19:01:52 GMT
Yeah i checked them out before i did anything but I thought i was being clever moving STD funds after it it was cash at that point but clearly i wasn't that clever. Mrs Aju now has an ISA for this period she will never actually put enough in to replenish the removed funds let alone the new ISA allowance as well. I guess its all a learning curve but its annoying when companies stray from what the HMRC define as the correct approach. Zopa are certainly within their rights to do what ever they want but to not document the fact. I reckon they will change the rules on their site soon. sadly i'm still going round in circles on the Statements and bonus-s definitions but i got the bone firmly in my mouth and i am not letting go yet!. Good luck with the tax statements, I think they've just stopped replying to me, and there are only so many ways I can keep trying to explain it's not right. But you probably have better contacts. I've been withdrawing funds in response which may or may not attract their attention, I doubt they care that much any more. I've got the person I normally work with on this and to be fair i'm digging quite hard, he's on leave at the moment but I have left him half a dozen issues to think about including the HMRC idea of ISA allowance replenishment stuff as well. I think its this issue that he has suggested he's also copied the CEO and the tribe, as he calls them, in too but CEO lady is on holiday till next week i think. He left for a break and poked some bonus tax issue items at me to check that they are supposed to have changed there but to be honest I'm not sure they altogether understand either - I'm fighting to get them to at least declare bonus types with labels as previously they used to ignore the tax issue and just declare EAB as Early adopter Bonus - Sadly that's the only one i'm bashing away with as i don't have any cashback Items or refer a friend ones either or others. etc. He says there have been some recent changes but I have not as yet checked them - he's away for few days so no rush. [-- as i was writing i decided to check the latest statements --] Edit: I thought i'd better check to see what the STD statements for my EAB were saying this month as i had been asked to check it. Lo and behold my statements now say .... (I have now checked and as far as i can see from my numbers my assumptions below are all correct)July: "Bonus: early adopter" that's a start i can accept but .... Apr: now says "Bonus: other" & "Bonus: goodwill" This item looks like the missed EAB items from Feb & Mar Not sure what they refer to as yet but i can check my spreads to confirm. May and June seem to both say "Bonus: goodwill" but looks like EAB i think but again i'd need to confirm. So i'm happy they got the July one right for EAB as in the old online statements I think. The others are a mish mash i feel and i'll flag this back as such. For me the EAB for these goodwill items are identical to what i recorded. One thing i do know is that without having the detailed statements to check back on its not very easy as I feel these goodwill items are marked up incorrectly and i'll flag it back as such. As i said before this edit If anyone has examples of other types of interest and non bonus referals etc. that are current and how they used to refer to them and how they are now then feel free to pass them on. At present i only have Early adopter bonus that was just marked as bonus other since Feb changes. This link p2pblog.co.uk/p2p-cashback-offers at the end details * Cashback offers where you are offered an incentive to join are not taxable (see relevant government document) * Refer a friend offers where you are the referrer who gains when someone else joins are taxable (see relevant government document) But i'm sure there are more types both taxable and non taxable additional items but i don't get any of these On the items shown above where they were marked as bonus types and are now showing as good leas me to believe that Zopa has this data stored in its internals but the statements are potential not really linked to totals and therefore items that have been dealt with in the past cannot be declared as the bonus items any more. If i'm right then it would seem Zopa is heading towards a bigger issue each time someone declares something in the statements file they make have to change so they don't inadvertently double add to the on screen totals. Who knows but i'm not sure with what i've seen so far if i should be removing all my funds as i am becoming less and less confident they know how to look after my funds.
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Greenwood2
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Post by Greenwood2 on Jul 30, 2021 5:37:16 GMT
Good luck with the tax statements, I think they've just stopped replying to me, and there are only so many ways I can keep trying to explain it's not right. But you probably have better contacts. I've been withdrawing funds in response which may or may not attract their attention, I doubt they care that much any more. I've got the person I normally work with on this and to be fair i'm digging quite hard, he's on leave at the moment but I have left him half a dozen issues to think about including the HMRC idea of ISA allowance replenishment stuff as well. I think its this issue that he has suggested he's also copied the CEO and the tribe, as he calls them, in too but CEO lady is on holiday till next week i think. He left for a break and poked some bonus tax issue items at me to check that they are supposed to have changed there but to be honest I'm not sure they altogether understand either - I'm fighting to get them to at least declare bonus types with labels as previously they used to ignore the tax issue and just declare EAB as Early adopter Bonus - Sadly that's the only one i'm bashing away with as i don't have any cashback Items or refer a friend ones either or others. etc. He says there have been some recent changes but I have not as yet checked them - he's away for few days so no rush. [-- as i was writing i decided to check the latest statements --] Edit: I thought i'd better check to see what the STD statements for my EAB were saying this month as i had been asked to check it. Lo and behold my statements now say .... (I have now checked and as far as i can see from my numbers my assumptions below are all correct)July: "Bonus: early adopter" that's a start i can accept but .... Apr: now says "Bonus: other" & "Bonus: goodwill" This item looks like the missed EAB items from Feb & Mar Not sure what they refer to as yet but i can check my spreads to confirm. May and June seem to both say "Bonus: goodwill" but looks like EAB i think but again i'd need to confirm. So i'm happy they got the July one right for EAB as in the old online statements I think. The others are a mish mash i feel and i'll flag this back as such. For me the EAB for these goodwill items are identical to what i recorded. One thing i do know is that without having the detailed statements to check back on its not very easy as I feel these goodwill items are marked up incorrectly and i'll flag it back as such. As i said before this edit If anyone has examples of other types of interest and non bonus referals etc. that are current and how they used to refer to them and how they are now then feel free to pass them on. At present i only have Early adopter bonus that was just marked as bonus other since Feb changes. This link p2pblog.co.uk/p2p-cashback-offers at the end details * Cashback offers where you are offered an incentive to join are not taxable (see relevant government document) * Refer a friend offers where you are the referrer who gains when someone else joins are taxable (see relevant government document) But i'm sure there are more types both taxable and non taxable additional items but i don't get any of these On the items shown above where they were marked as bonus types and are now showing as good leas me to believe that Zopa has this data stored in its internals but the statements are potential not really linked to totals and therefore items that have been dealt with in the past cannot be declared as the bonus items any more. If i'm right then it would seem Zopa is heading towards a bigger issue each time someone declares something in the statements file they make have to change so they don't inadvertently double add to the on screen totals. Who knows but i'm not sure with what i've seen so far if i should be removing all my funds as i am becoming less and less confident they know how to look after my funds. Looking at the 2021/21 and 2021/22 tax year statements, I now have some bonus listed as 'early adopter bonus' (EAB) and some as 'goodwill payments' (GWP) in both statements (EAB + GWP) is actually the full amount of early adopter bonus. Zopa seem to have changed the name of the bonus from EAB to GWP and then back to EAB. I assume in future it will all be EAB again. Zopa have also removed the 'Amount to declare' from the statements altogether, which at least means they are not factually incorrect any more, although it's a bit late for 2020/21 if you've already done your self assessment using the figure for 'Amount to declare' given in the original 2020/21 statement. The statements are not as helpful as they used to be, you have to do the sums yourself, but this is not a big problem if you know what is taxable or not.
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Post by kvd on Aug 25, 2021 23:06:25 GMT
If £400 has been withdrawn from a flexible ISA this tax year and no new money had previously been added to it this tax year (so no 21/22 subscription) then you can put £400 back in without it impacting this tax-years subscription. That's the legal position. This money could be from a non ISA account with Zopa or elsewhere. That said Zopa may have decided to effectively make its ISA non-flexible when it decided to ban new money - certainly the practical effect is essentially to make it non flexible since if they wont accept new funds you cannot replace the previously withdrawn funds. Moving funds from a non ISA account may be something they hadnt considered, but presumably is an edge case and anyway doesn't actually impact on their overall 'policy' objective of stopping new money into the Zopa p2p ecosystem since its already inside the system.
But good luchk finding a grown up in Zopa who understands this stuff.
The grownups are few and far between in my view if at all but that will never stop me trying. I recently reported an issue with their on screen times detailing the last changes to statements data. I usually use it to compare the recent changes - there are a number of times in a day that these changes take place but most usually the ones i want to catch are around 11:00pm. sadly one of their servers is not set up with the correct time - last month i reported it was an hour out but on Monday this week it is 2 hours out - I know because i thought it was safe to record the changes in my spreads and fortunately noticed it was still changing despite it being 11:00pm and the Statements clock said 9pm - knowing that it was 1 hour out when i reported it I got caught out. So having reported the 1 hour out at the beginning of the month and being told it will be fixed in next two weeks I reported the 2hr slide. Apparently it will now take a further 2 weeks to fix it. Thats ok i know now how to avoid it most of the time but 6 weeks to update a server clock. Worst thing is I just re-reported on the same fault and the person who answered asked the exact same questions again without reading the thread and seeing this is not a new issue. Go figure eh. On the ISA front they have asked a number of question have pointed me at HMRC and now as result of what i found there they have a whole load of new questions. At first none of them could understand where i am coming from but i'm glad i did it with Mrs Aju as she does not pay tax at all anyway but I do so I won't be putting any "New" money from returned STD funds into Zopa ISA as I may become confident over the year to move funds elsewhere and wanted to leave my options open.  I don’t know, it just seems like it’s something a wee bit trivial to complain about Now the fact they’ve paused new funding and transfer ins for Ifisas is just a bit more pressing than a statement clock, but that’s just me
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aju
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Post by aju on Aug 25, 2021 23:29:14 GMT
The grownups are few and far between in my view if at all but that will never stop me trying. I recently reported an issue with their on screen times detailing the last changes to statements data. I usually use it to compare the recent changes - there are a number of times in a day that these changes take place but most usually the ones i want to catch are around 11:00pm. sadly one of their servers is not set up with the correct time - last month i reported it was an hour out but on Monday this week it is 2 hours out - I know because i thought it was safe to record the changes in my spreads and fortunately noticed it was still changing despite it being 11:00pm and the Statements clock said 9pm - knowing that it was 1 hour out when i reported it I got caught out. So having reported the 1 hour out at the beginning of the month and being told it will be fixed in next two weeks I reported the 2hr slide. Apparently it will now take a further 2 weeks to fix it. Thats ok i know now how to avoid it most of the time but 6 weeks to update a server clock. Worst thing is I just re-reported on the same fault and the person who answered asked the exact same questions again without reading the thread and seeing this is not a new issue. Go figure eh. On the ISA front they have asked a number of question have pointed me at HMRC and now as result of what i found there they have a whole load of new questions. At first none of them could understand where i am coming from but i'm glad i did it with Mrs Aju as she does not pay tax at all anyway but I do so I won't be putting any "New" money from returned STD funds into Zopa ISA as I may become confident over the year to move funds elsewhere and wanted to leave my options open. I don’t know, it just seems like it’s something a wee bit trivial to complain about Now the fact they’ve paused new funding and transfer ins for Ifisas is just a bit more pressing than a statement clock, but that’s just me Yeah you might think that initially and i just poked it at them as a simple question could it be fixed - not really helping if one is recording stuff like i do - its amazing what you find wrong if you do a bit of digging and have the records. Ask yourself also though if they cannot get something as simple as this correct then its a safe bet they can't get more serious maths right as well. Now that might be a bit more worrying No?
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Post by kvd on Aug 26, 2021 5:48:06 GMT
I don’t know, it just seems like it’s something a wee bit trivial to complain about Now the fact they’ve paused new funding and transfer ins for Ifisas is just a bit more pressing than a statement clock, but that’s just me Yeah you might think that initially and i just poked it at them as a simple question could it be fixed - not really helping if one is recording stuff like i do - its amazing what you find wrong if you do a bit of digging and have the records. Ask yourself also though if they cannot get something as simple as this correct then its a safe bet they can't get more serious maths right as well. Now that might be a bit more worrying No? I don’t know there’s more pressing things for me to concern about such as getting involved in volunteering and visiting relatives rather than being a voluntary consultant for zopa and then whinging about it on the internet and for a statement clock. If they for argument sake remove the clock completely as a way of improving the system I can imagine you would also have an issue; it does seem as though you’re raising arguments for the sake of it and it wouldn’t matter what they say you would always have an issue. Zopa don’t seem to be in a position where they can win, with either yourself or criston. And I don’t know what I find sadder - the fact you’re spending time raising all these issues rather than going outside and enjoying the sun or doing a crossword or reading FT. For all the problems you find as some sort of quality consultant you need to bear in mind no one is paying you for this I don’t know, the phrase “get a life” springs to mind
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Post by mfaxford on Aug 26, 2021 7:44:13 GMT
If they for argument sake remove the clock completely as a way of improving the system I can imagine you would also have an issue; it does seem as though you’re raising arguments for the sake of it and it wouldn’t matter what they say you would always have an issue. Zopa don’t seem to be in a position where they can win, with either yourself or criston. And I don’t know what I find sadder - the fact you’re spending time raising all these issues rather than going outside and enjoying the sun or doing a crossword or reading FT. For all the problems you find as some sort of quality consultant you need to bear in mind no one is paying you for this If your bank was regularly adding £1.00 to £1.00 and getting £1.98 what would you do (or do you not check your bank statements) ? Whilst the time being out by an hour (or two) might be a trivial issue some of the other things aju has spotted and asked about are more serious (like details of loans missing from the loan book). All of these issues (trivial and less so) could be an indication that corners are being cut in terms of checking how their systems are working. If they a) failed to notice that the clock wasn't showing local UK time, and b) failed to notice that their 'fix' made it worse then what other (potentially more important) things are they also missing and getting wrong.
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Post by kvd on Aug 26, 2021 8:07:17 GMT
If they for argument sake remove the clock completely as a way of improving the system I can imagine you would also have an issue; it does seem as though you’re raising arguments for the sake of it and it wouldn’t matter what they say you would always have an issue. Zopa don’t seem to be in a position where they can win, with either yourself or criston. And I don’t know what I find sadder - the fact you’re spending time raising all these issues rather than going outside and enjoying the sun or doing a crossword or reading FT. For all the problems you find as some sort of quality consultant you need to bear in mind no one is paying you for this If your bank was regularly adding £1.00 to £1.00 and getting £1.98 what would you do (or do you not check your bank statements) ? Whilst the time being out by an hour (or two) might be a trivial issue some of the other things aju has spotted and asked about are more serious (like details of loans missing from the loan book). All of these issues (trivial and less so) could be an indication that corners are being cut in terms of checking how their systems are working. If they a) failed to notice that the clock wasn't showing local UK time, and b) failed to notice that their 'fix' made it worse then what other (potentially more important) things are they also missing and getting wrong. Whether aju is or isn’t right is beside the point, I don’t spend all of my days (and I mean ALL of my days, I spend once a month for a whole day going over everything) poring over my statements and pestering the bank which is what aju seems to be doing. How many customers does zopa and any expects them to be at his beck and call? “I have a contact” and “I rub noses with ceo” seems to suggest “I spoke to the manager” I appreciate he has points, but given people are dying in the wider world over a virus, I look at the bigger picture of its worth creating extra work for myself when I could spend time with my wife or having a walk
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aju
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Post by aju on Aug 26, 2021 8:09:27 GMT
If they for argument sake remove the clock completely as a way of improving the system I can imagine you would also have an issue; it does seem as though you’re raising arguments for the sake of it and it wouldn’t matter what they say you would always have an issue. Zopa don’t seem to be in a position where they can win, with either yourself or criston. And I don’t know what I find sadder - the fact you’re spending time raising all these issues rather than going outside and enjoying the sun or doing a crossword or reading FT. For all the problems you find as some sort of quality consultant you need to bear in mind no one is paying you for this If your bank was regularly adding £1.00 to £1.00 and getting £1.98 what would you do (or do you not check your bank statements) ? Whilst the time being out by an hour (or two) might be a trivial issue some of the other things aju has spotted and asked about are more serious (like details of loans missing from the loan book). All of these issues (trivial and less so) could be an indication that corners are being cut in terms of checking how their systems are working. If they a) failed to notice that the clock wasn't showing local UK time, and b) failed to notice that their 'fix' made it worse then what other (potentially more important) things are they also missing and getting wrong. Thanks @maxford, i was coming to that but thought to myself this person has been here five minutes and besides probably unaware of the very old adage - "look after the pennies and the pounds look after themselves". Your comments makes this point I feel. Sadly I was still in bed using Mrs Aju's tablet and my fingers are a bit too stumpy at times to make very long answers. I definitely check all my bank statements if only to make sure there are no errors but worse someone is messing with the accounts too. Takes quite a bit of time some months as Mrs Aju flatout refuses to do anything like this but spending our money . The clock was never an issue to me just a hindrance when updating my tracking spreads. It spoke volumes to me that Zopa actually tried to fob me off further when it then went from 1 hours out to 2 hours out. I'm still not sure its fixed but that smacks of a single server error rather than a multiple of them that with the amount of data they are pushing is probably gargantuan but what do I know!.
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aju
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Post by aju on Aug 26, 2021 8:21:50 GMT
If your bank was regularly adding £1.00 to £1.00 and getting £1.98 what would you do (or do you not check your bank statements) ? Whilst the time being out by an hour (or two) might be a trivial issue some of the other things aju has spotted and asked about are more serious (like details of loans missing from the loan book). All of these issues (trivial and less so) could be an indication that corners are being cut in terms of checking how their systems are working. If they a) failed to notice that the clock wasn't showing local UK time, and b) failed to notice that their 'fix' made it worse then what other (potentially more important) things are they also missing and getting wrong. Whether aju is or isn’t right is beside the point, I don’t spend all of my days (and I mean ALL of my days, I spend once a month for a whole day going over everything) poring over my statements and pestering the bank which is what aju seems to be doing. How many customers does zopa and any expects them to be at his beck and call? “I have a contact” and “I rub noses with ceo” seems to suggest “I spoke to the manager” I appreciate he has points, but given people are dying in the wider world over a virus, I look at the bigger picture of its worth creating extra work for myself when I could spend time with my wife or having a walk Ok so i wonder if you are actually on the wrong thread here the covid thread is catering for that stuff its absolutely huge perhpas you might want to be over there this is the Zopa thread I see you have only posted on here so far there are other areas you can be objectionable I frequent here because I am a zopa investor. Zopa is far from being at my beck and call i have been trying to get quite a large number of things way more important to me than this item fixed for months now, since the debacle of changes they made in Feb. There are numerous things wrong that if you are interested in there are many other threads. I am not a consultant for Zopa or for anyone in fact I took early retirement in 2007 and have been fine ever since not having technically done a days work. I just have a vested interest in Zopa and many other organisations taking more care with my hard earnt cash. For you to have come in hear and in your first 6/7 messages have eventually resorted to accusing me of a number of things that if you were really a serious investor in Zopa you might step back and have a view that whilst they seem small to you they are not in the bigger scheme in your favour let alone many other in these forums but i guess everyone is entitled to their view. That's it you want to call me things i personally don't have an interest in being called then that's fine but I will not be engaging with you personally again and i'd be grateful if you be nothing more than civil to me in the future. Thanks and good health to you.
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mogish
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Post by mogish on Nov 10, 2021 10:10:03 GMT
Out of I interest, is anyone still investing with zopa ? I'm currently in rundown as there are better options available and zopa dont seem to want retail anymore, no protection and quote a few defaults.
What's other zopa investors thoughts?
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Post by birdie on Nov 10, 2021 10:41:05 GMT
Out of I interest, is anyone still investing with zopa ? I'm currently in rundown as there are better options available and zopa dont seem to want retail anymore, no protection and quote a few defaults. What's other zopa investors thoughts? I had quite a bit with Zopa until 3 years ago, I started to withdraw as repayments were made, now what I have left is being re-invested, my accounts are showing interest of 3.57 and 3.89% at the moment , still better than the bank. How things have changed since the early days of Zopa and RateSetter!!
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Post by marcusponds on Nov 10, 2021 11:37:28 GMT
Out of I interest, is anyone still investing with zopa ? I'm currently in rundown as there are better options available and zopa dont seem to want retail anymore, no protection and quote a few defaults. What's other zopa investors thoughts? I had quite a bit with Zopa until 3 years ago, I started to withdraw as repayments were made, now what I have left is being re-invested, my accounts are showing interest of 3.57 and 3.89% at the moment , still better than the bank. How things have changed since the early days of Zopa and RateSetter!! same here, running at 3.5% net of losses.
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Greenwood2
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Post by Greenwood2 on Nov 10, 2021 20:50:52 GMT
I think the problem is the Zopa Bank has tons of money now so they don't need lenders any more. It's just a question of time before they admit it.
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Post by mfaxford on Nov 11, 2021 8:14:54 GMT
Out of I interest, is anyone still investing with zopa ? I'm currently in rundown as there are better options available and zopa dont seem to want retail anymore, no protection and quote a few defaults. What's other zopa investors thoughts? I was re-investing some funds (until the last major breakage) having withdrawn around half my funds earlier in the year. I'm now withdrawing more as repayments are made. Maybe once my balance is down to a level I'm happy with I'll re-invest again (or Zopa will have actually announced they're shutting the P2P side of the business rather than just doing all they can to get rid of us).
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trevor
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Post by trevor on Nov 11, 2021 21:26:30 GMT
Zopa are constantly at the top or near the top for 1/2/3 year interest FSCS protected savings accounts so must be raking in the money. The cost to them of these loans is a a lot less than they pay us lenders through P2P. There has to come a time when they simply have no use for P2P lenders money. At this point I predict they will copy RS and simply compulsorily close our accounts and pay us back in a couple of days.
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