TY, will you be including Capital gains report in future ?
Will you be issuing tax certificates earlier in future tax years?
Not everyone files a self assessment tax return so late or even electronically…
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Yes we’re planning to have the next certificates ready much earlier. I think the team was aiming for May/June.
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Still need better tax info for SIPPs. I need an easier way to see my contribution + HMRC bonus added for each tax year. Other platforms can easily show this, but for FT I have to request some data and then review it myself. This should be pretty easy to provide and it’s essential for doing a tax return.
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OK just to add - there is a document called Annual Benefit Statement within the SIPP activity feed but it’s not easy to find and there’s no way to find it from the filter menu. I found it manually in my feed.
Also it was provided in April 2022 but it was in my feed for 2022-2023 tax year in November 2023. Not a huge issue but if anyone is looking you may want to check a wide date range.
One issue with this benefit statement is that it shows a calculation of contributions + tax relief + dividends received. When entering pension value on a tax return the dividend amount isn’t included. Other providers such as HL and Vanguard do not include dividends when they have this info. There probably needs to be two different reports here.
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Mine showed up in app yesterday but I didn’t receive an email (and I don’t think I received a push notification). If it doesn’t already exist I would like the option to receive notifications for important documents by email as I don’t keep the Freetrade app installed on my phone (I keep on a device I only turn on occasionally).
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While I am sure others have pointed it out, the all activity statement is not sufficient to calculate capital gains if you have multiple buy and sell orders for a stock that has had a share split. It is impossible to calculate how many remain after a partial sell and therefore the new cost basis for calculating capital gains tax. As an early investor, the lack of a tax report or the ability to calculate the liability yourself really does feel like a shocking gap in the product. Even if there was an automated report at the end of the year, that still would not enable people to do proper tax planning - seeing how much of their tax free band is used up, whether they can sell loss positions to minimise the liability, etc. Hard to believe this is not available.
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Will the tax certificates be issued for Treasury accounts. I have been offered raw data from my chat conversation but this will tax effort to work out each of the 1 month Treasuries yield and rollover re-investment.
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Any update on the 2023/24 Consolidated Tax Certificate?
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Any news here? It is August in a few days.
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It’s August tomorrow and still no Consolidated Tax Certificate. Please let us know when we can expect it. My accountant is as cheesed off as I am !
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Hi all,
Apologies for the delay here. I’ve been chasing this up a status update on this. We’ve had to do some additional work on CTCs before producing the batch for the 23-24 tax year, making improvements on the previous run that we produced.
Unfortunately that means we need to complete a few pieces of work before we’re ready to release these. We’re targeting October at the moment to produce these, in any case well in advance of the digital filing deadline on 31 January.
If you’re planning to do a paper filing for the end of October, please do reach out to customer service to raise this.
Best,
Alex
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Wow Alex,
You must look around you sometimes and think what the hell is everyone around me doing? It must be so embarrassing having to come here and make excuse after excuse after excuse about how the most basic functionality is sooooooooo far beyond the people at FT.
Have you ever thought of trying to get people in who can actually, you know complete a single document thousands and thousands of your users need to submit every year completed in less than 5 years?
It cant come as a surprise to anyone that FT have zero chance of releasing Crypto or doing the European expansion or even getting a fully working website up in less than 3 years if they cant even get a script written to produce these documents.
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As a developer and early user, and investor, I find this very poor. Trading 212 added feature years ago.Very disappointing.
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Please can you inform us when the Tax certificate is going to be issued. Each year it’s like getting blood out of a stone!
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Hi @Hugh
I’ve just checked in with the team. They had to do some additional work this year as a result of a few things that had to get fixed in the CTCs for last tax year. They’re looking to deliver these towards the end of October.
I’ll let everyone know as soon as we have more information.
Best,
Alex
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Hi, is this still on target for the end of October?
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We’ve distributed them last week to staff internally to quality check for any anomalies and we’re planning to send out about 10% tomorrow (15 October) before rolling out to everyone. So ideally you’ll have yours well before the end of October!
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Hi everyone, any ideas when the CTC for the previous tax year will be available in the app? The response I am getting is it will be released in “the coming months” which feels like a long time away and very close to the deadline. Does anyone have more info? Thanks
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+1
Last year they released the tax certificate after the filing deadline.
If that happens again this year, I’m moving away.