Hi
I help my son with his finances including completing his HMRC return. He tells me that he does not get a Tax Voucher detailing income and tax paid in the last tax year. Why is this and how should income from Freetrade be declared on a return?
I will check but think he is on the basic free account and not an ISA as he has one already.
TIA
I’m happy to be wrong, as ISA / SIPP investor I’ve not had to do this type of filing, but I believe you have to request the data from support. They send you a CSV file from which you can work out any taxes due
Thank you. I must admit I thought that by law investment companies had to supply the required tax information automatically. Every other finacial/investment company I deal with does this. Similarly they have to pass the same information to HMRC.
You’ll find that along with many other things (regardless of how much the fanboys shout to the contrary) FT is quite immature about this… they will do the bare minimum and when asked about it directly it’s never a “priority item” or it’s something that is “looked at internally”. The reality being it’s not “disruptive” enough or sexy enough to do the hard graft things that shift liability from us because, presumably, somehow it’s doesn’t “add value” to their proposition (or replace here with any generic Americanism a 20 year old is gullible enough to utter)… bottom line this type of thing is the biggest risk with FT and if they weren’t so damn cheap for market access a lot of people I fear would have looked elsewhere already
Freetrade have been issuing tax certs so this process is now live.
Head of communications just commented on this today as well on the “monthly statements now in the app” thread.