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Post by jackpease on Apr 1, 2014 9:55:34 GMT
I can't find this through searching, is there an easy way of getting an Taxman-friendly year end tax statement for Assetz?
thanks jack
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Post by Ton ⓉⓞⓃ on Apr 1, 2014 10:04:38 GMT
I can't find this through searching, is there an easy way of getting an Taxman-friendly year end tax statement for Assetz? thanks jack This is a regular issue, there is an answer on the site some where but IIRC it's in the pipeline and they plan to have it ready before you need to do your tax. I may be wrong but I think the date was late summer, but if they get pester enough I think they might drag if forward, today though might not be the best day tho' as today is the first day of Regulation they're also launching some new toys, besides looking at my clock I see it's Elevenies!
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Post by Ton ⓉⓞⓃ on Apr 1, 2014 10:23:15 GMT
At end of January I needed to provide my accountant with an estimate of earnings from p2p platforms for current financial year in order to sort out mess HMRC had made of my tax code. I asked AC for the info and got this in the response: "A simpler tax statement is something I have requested and I hope isn't too far off being uploaded. If you or your IFA/Accountant require more information we are happy to assist with any requests." Hopefully they do it in next 3 weeks ready for end of tax year. I've found where it's mentioned starting on the 26th Jan. which is page6 going onto 11th Feb. Tax Statement Suggestion just click the link and read between the dates above, it's right in the middle of lots of suggestion.
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Post by jackpease on Apr 1, 2014 12:26:13 GMT
Thanks Ton
>>> they plan to have it ready before you need to do your tax
I need to do my tax!
I do find Funding Knight's front end sooooo much more useful than anyone elses - took me a few seconds to pull off the certificate
I guess i have to trawl through a very long exported excel file tagging up deposits and withdrawals
J
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 29, 2014 16:16:24 GMT
Tax statement now available .... many thanks guys ...but I ain't paying yet  |
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Post by Ton ⓉⓞⓃ on May 29, 2014 16:57:36 GMT
I note that my statement includes the extra interest that I got in error due to the interest rate bug, not much and it won't affect my standing with the the Taxman... I think in total for everyone it was only £200!
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on May 29, 2014 17:13:23 GMT
Tax statement now available .... many thanks guys ...but I ain't paying yet Thanks for the heads up guys, finally! Having checked mine, there is an error so will be contacting AC very soon to see why
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Post by mrclondon on May 29, 2014 17:36:12 GMT
My tax statement is showing a major underestimation of the interest paid during the tax year. Using the website to split the total down month by month it shows errors in Jun, Oct, Nov, Dec, Jan, Feb & Mar compared to actual interest (excluding any cashback) paid. chris let me know if you want my spreadsheet analysis.
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Post by chris on May 29, 2014 17:37:19 GMT
My tax statement is showing a major underestimation of the interest paid during the tax year. Using the website to split the total down month by month it shows errors in Jun, Oct, Nov, Dec, Jan, Feb & Mar compared to actual interest (excluding any cashback) paid. chris let me know if you want my spreadsheet analysis. I'll have to connect you to the developer responsible, my back's up against the wall with another deadline.
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Post by bracknellboy on May 29, 2014 19:21:53 GMT
My tax statement is showing a major underestimation of the interest paid during the tax year. Using the website to split the total down month by month it shows errors in Jun, Oct, Nov, Dec, Jan, Feb & Mar compared to actual interest (excluding any cashback) paid. chris let me know if you want my spreadsheet analysis. Well MRC, how about "ssshhh, mum's the word". You have a nice pretty tax statement supplied by AC, presumably on 'heaed paper', that you can provide to your accountant/taxman if they ever ask for it. And next year, if some how its has included last years 'missing interest', you can back to AC point it out and get it corrected to only reflect this tax year. But then again, maybe you have carefully filed the current one, and will omit to notice a revised one. Obviously I could not endorse such behaviour.
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Post by Jack Barlow on May 29, 2014 21:37:18 GMT
My Tax statement is correctly showing the actual interest paid in 2013-14 (ignoring cashback). Have we established whether or not cashback should be taxed as income? - TC also leave cashback off their tax statements (as well as some pre-drawdown interest). mrclondon, I'm confused how you are able to identify monthly errors in the tax statement - my statement just shows a single total for the year, no monthly breakdown. Am I missing something on the website or misunderstanding the point you are making? Jack |
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mikes1531
Member of DD Central
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Post by mikes1531 on May 29, 2014 21:43:34 GMT
My Tax statement is correctly showing the actual interest paid in 2013-14 (ignoring cashback). Have we established whether or not cashback should be taxed as income? - TC also leave cashback off their tax statements (as well as some pre-drawdown interest). mrclondon, I'm confused how you are able to identify monthly errors in the tax statement - my statement just shows a single total for the year, no monthly breakdown. Am I missing something on the website or misunderstanding the point you are making? Jack You can change the dates on the tax statement page to see the interest in any particular period, such as a given month. PS. You can even use it to see how much you've earned so far this month.
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Post by mrclondon on May 29, 2014 22:04:06 GMT
My tax statement is showing a major underestimation of the interest paid during the tax year. Using the website to split the total down month by month it shows errors in Jun, Oct, Nov, Dec, Jan, Feb & Mar compared to actual interest (excluding any cashback) paid. chris let me know if you want my spreadsheet analysis. I'll have to connect you to the developer responsible, my back's up against the wall with another deadline. After a load of number crunching in Excel I've identified 3 interest payments that are not covered by the tax statement 12th Jun 13 - Auction 8 (the payment was never broken down into interest + capital; and is being treated as 100% capital) 25th Oct 13 - Auction 2 (very large rolled up interest payment from Notts accom omitted entirely) 25th Feb 14 - Auction 60 (manual correction in the long running AM problem, but labeled as interest on my statement) Perhaps the functionality should be removed from the website until it can be corrected ??
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Post by Jack Barlow on May 29, 2014 22:07:36 GMT
Thanks mikes1531, not sure how I missed that. It's been a long day! |
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duck
Member of DD Central
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Post by duck on May 30, 2014 4:51:12 GMT
My tax statement is showing a major underestimation of the interest paid during the tax year. Using the website to split the total down month by month it shows errors in Jun, Oct, Nov, Dec, Jan, Feb & Mar compared to actual interest (excluding any cashback) paid. chris let me know if you want my spreadsheet analysis. I'll have to connect you to the developer responsible, my back's up against the wall with another deadline. I've checked my statement and the 'interest paid' is correct however it has omitted 'settled accrued interest' (relates to Not......m St....t) paid 25/10/2013. I don't believe this omission to be correct but obviously stand to be corrected.
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