adx
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Post by adx on May 22, 2015 22:20:08 GMT
Is there an easy way to download a tax statement for my accounts?
I've created a nominal ledger for the last financial year which has a section titled INTEREST so I'm hoping that's giving me the correct figure.
I use a number of different P2P sites and ThinCats is the only one where I can't find a link to download a PDF showing interest earned.
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Post by lynnanthony on May 22, 2015 23:55:34 GMT
Slightly easier, on the dashboard there is a repayment summary with interest and capital separated; fiddling with the dates should allow you to find your interest earned for a tax year.
Though, oddly, it doesn't seem to exactly match what I know I have received.
(PS. You'll probably get more help using Thincats' own forum.)
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spiral
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Post by spiral on May 23, 2015 8:06:36 GMT
A few weeks ago , 12/4 to be precise, I downloaded a tax statement from their reporting tool. This now seems to have vanished as earlier this week I wanted to rerun it after someone on their own forum pointed out that they had incorrectly posted some late payments received in Apr into the previous tax year.
As this was a loan that I was a part of, I wanted to see if this had changed my tax statement but I could no longer locate it.
The Pdf downloaded has the words "Tax statement of your portfolio - 06/04/2014 - 05/04/2015" so must have been an official attempt at a tax statement.
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Post by bracknellboy on May 23, 2015 8:27:21 GMT
Its been reported on the 'old' TC forum that the tax statement report has been removed. Who knows why.
The incorrect reporting of date of interest recieved, and some other oddities is nothing new: been flagged by TC members for ages. For 13/14 tax year it made no material difference to me. For 14-15 it may well do.
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spiral
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Post by spiral on May 23, 2015 9:20:15 GMT
For 14-15 it may well do. For me it will do. I contacted the FCA about this issue and was informed: "I can confirm that we do not have any specific regulations regarding when interest should be dated and credited to an investors account under a peer-to-peer arrangement. On this basis, it may be commercial decision." which TBH I thought was a total cop out. I'm sure if I had received the interest today but for some reason TC decided to post it in the next tax year, one of the authorities would have something to say about it. I will just end up filing a different amount to what TC tell them.
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adx
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Post by adx on May 23, 2015 17:39:03 GMT
Slightly easier, on the dashboard there is a repayment summary with interest and capital separated; fiddling with the dates should allow you to find your interest earned for a tax year. Though, oddly, it doesn't seem to exactly match what I know I have received. (PS. You'll probably get more help using Thincats' own forum.) Thanks for the suggestion. I tried it, and got exactly the same figure as the nominal ledger - which is reassuring  But the lack of an easily downloadable PDF is one of the reasons I'm not putting any more funds into TC. The site is just too clunky and difficult to understand. After all it's the only one that needs a user manual.
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Post by tybalt on May 24, 2015 12:52:47 GMT
I am not sure if the need for a manual reflects the complex reporting and bidding process and features such on the Secondary Market and access to the original loan documentation or the number of kludges and unexpected responses the system throws up. Still it is allegedly under three months to a completely new system
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Post by tybalt on May 29, 2015 16:09:59 GMT
To the Original Poster. I received a ThinCats Tax Statement by Email this afternoon.
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on May 30, 2015 10:48:43 GMT
Me too, but not much use as my year end is December.
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Post by badger on Apr 11, 2016 8:55:35 GMT
There's still no tax statement facility on TC, so I thought I'd 'bump' this post. On your dashboard, put the tax year dates into "repayment summary" and take the "interest outstanding" figure
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pikestaff
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Post by pikestaff on Apr 11, 2016 22:16:58 GMT
There's still no tax statement facility on TC, so I thought I'd 'bump' this post. On your dashboard, put the tax year dates into "repayment summary" and take the "interest outstanding" figure I would not recommend this. Nor would I recommend using the tax report function, if it reappears. Both give interest as recorded in the nominal ledger, which for a number of reasons (documented on the TC forums) is not the same as cash interest (which UK individuals will need for their tax returns). It would be better to wait for TC to produce tax statements. Last year these were issued toward the end of May.
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Greenwood2
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Post by Greenwood2 on Apr 13, 2016 10:51:47 GMT
Hopefully including loans that are irrecoverable in HMRC terms and can be tax deductible.
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shimself
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Post by shimself on Apr 15, 2016 8:02:54 GMT
I asked for and got mine for calendar 2015 very promptly and then cap gains when I asked for them by return. (I'd rather they held off declaring any defualts in 2015). email tax@tc if you need help
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Post by tybalt on May 29, 2016 16:02:23 GMT
Received for 2015/16 today
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Greenwood2
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Post by Greenwood2 on May 30, 2016 18:45:48 GMT
But no information on tax deductible losses.
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