[Feature Request 🔧] Annual Tax Certificate 💰

The CGT issue only applies to those who:

  • have disposed of chargeable assets which were worth more than £49,200
  • have chargeable gains, before the deduction of any losses, of more than £12,300
    I assume this will be a small percentage of people on FT, so a low priority.

Therefore it is the Interest and Dividends that will be the main concern for tax reporting purposes for most people, however this new csv export function doesn’t do enough to separate foreign interest and dividends (especially for those Acc funds) so whilst the numbers are low, I have no confidence in the final output being 100% accurate

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Totally agree the reporting needs to be reliable.

Hopefully most shouldn’t need to pay tax as they will be under the £2000 dividend allowance.

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This feature is a must.
The transactions report provided is not in a format that is easy for the accountants to use.
Trading 212 has had this feature for ages. Moved because of the lower fees, but not having this feature doesn’t make the lower fees worth the move. Might consider moving back, as it’s been at least 3 years since this was first requested. :triumph:

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I agree. This should be a paid service. I’d happily give Freetrade £20 or something for this certificate, but I see it’s a bit pointless to produce when 99% of their userbase does not need one.

Fair point but as I have pointed out countless times on this forum, Freetrade is the only trading platform I know of that fails to provide a tax certificate for GIA investors. It’s mystifying for a brand that purports to be a disruptor.

| SirCaesar Cesare G. A.
3 January |

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I agree. This should be a paid service. I’d happily give Freetrade £20 or something for this certificate, but I see it’s a bit pointless to produce when 99% of their userbase does not need one.

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Sad to hear of users leaving freetrade because of issues that could be fixed relatively easily (this is similar to employer contributions - customers are telling freetrade what they need but are met with radio silence).

This sort of problem does indicate just how much easier life is when using tax shelter accounts like ISA or SIPP though - best to get your money into those as fast as possible.

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I’m another person slowly moving out of the GIA. This tax situation is going to catch more and much of us as the tax allowances are reduced over the next two years. A proper tax certificate would help an increasing number of us. I’m beginning forced to move anything in a GIA to another broker to reduce the tax form pain. Freetrade will lose more and more customers if it does not solve this.

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Agree with the above, this is a major issue especially given the forthcoming tax changes and the lack of progress on this in 3+ years is concerning.

I love the Freetrade app and I plan to continue using it for my ISA and SIPP but I’ll be switching to a different provider for my taxable account for this reason.

Hi @cmathurin - thanks for sharing your feedback on the activity feed download feature we launched in November/December last year.

It would be good to understand what makes the activity feed download difficult to use? Are there specific data items which are missing? Is the format not clear enough?

In terms of the CTC, this is not in our immediate plans in time for this self assessment period which is due at the end of the month. However, it’s something we are considering in the future.

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Sorry but this isn’t acceptable. I personally have been asking for a tax cert over multiple posts for many years, as have others. You seem to prioritise pointless updates and adding stocks from obscure Euro markets, over features that will keep investors with larger accounts on the platform. I’ve just had to do my tax SA and the Freetrade element is a pain.

Plus as I type this, the platform is experiencing ANOTHER outage. Its 8.49am and I’m still unable to buy/sell or get accurate pricing for the UK market. Again, unacceptable.

I’ll be moving my GIA account out of FT this year and onto other platforms if you don’t have a consolidated tax cert for the 22/22 tax year. Guaranteed.

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Hey Senior Group Product Manager, I think VP Product @JamesBell (below) might have mentioned some of the deficienies when writing this post in Sep 22’ - unless these have been taken care of in updates?

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The lack of a self-assessment usable tax certificate is a deal breaker at the moment and is stopping me from investing more in my GIA. I’m planning on using competitors for this that have this functionality. The amount of headache that would be involved in using Freetrade for GIA trading would be a nightmare.

This is a real shame as I love your app more than any other, I’m an investor in Freetrade as a company and love your product inside of an ISA.

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It is not a “full” activity feed.

Some deposits do not show.
Consolidations/splits do not show
The Reit 20% income retrospectively vkaimed foes not show
In SIPP, hmrc contributions do not state which deposit they relate to.

Many minor issues with the “Buy/Sell list incorrectly named Activity List”

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hi matt, i asked a question about the activity feed not showing my reit reclaims and was advised they could run a manual report for me. if you want the same just contact customer services and they asked me to provide:

  • Your date of birth for security
  • The account(s) you’d like the statement(s) to reflect (GIA, ISA, SIPP)
  • The date range
  • The format (csv. or pdf)
  • Any personal information you’d like included in the statement (password protected pdf only)

Hi, appreciate the manual report but that should not be necessary as it ought to be in the Activity Feed in the first place.

What strain will this place on the HelpDesk at the end of the year (unless FreeTrade just generates and issues a full report to the email address linked to each account automatically - I cannot recall what happened last year)

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agreed, they need to get ahead of the game instead of playing catch up all the time

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Hi - where can I find a Consolidated Tax Certificate on the Freetrade App - thanks

Hi,
There sadly isn’t one.

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Hi, totally agree… they should be providing this ASAP. We all need to write to them & put pressure on them & then they will allocate funds to purchase good software which will do the job.
Ideally the realised profit & realised loss should be on tbe main screen on the Freetrade App so we can plan our tax return.

Me & my friends have aleady written to freetrade & i request all in this community to write to them at the earliest. Now freetrade is not totally free & are charging more & they should be able to provide this service.

Regards
Ash

Hi… just to add on…
When I wrote to free trade theh provided me tbe account activity & its 47 pages!! It is great difficulty for me to sit & calculate my realised profit & loss…
In this day and age this is not the way forward.
If freetrade wont avail this facility, i will take my investment elsewhere.
Hope some sense and duty prevails & they orovide this usefull service ASAP
Regards
Ash