[Feature Request 🔧] Annual Tax Certificate 💰

[AJHY]

Adam has said they are building this feature and if you speak to them using the in app chat they will provide all the data you need!

[ScottyDD (Adam)]

Thanks! I’ll do that. It would be awesome if this would be a literally end to end platform in that way.

[CashCow (aka CrashCow)]

I’m self employed and have never had any investments of any kind before. I’m already panicing about how complicated by Self Assesment is going to be and my Freetrade porfolio is only worth a few hundred pound!

[Wulfy]

For my own benefit if you have your shares in the isa. Do you even need to claim them on self assessment?

[pawn]

Nope…

Individual Savings Accounts (ISAs)

[Wulfy]

Great to hear. I’ll stick to everything being in the isa then.

[Uniqueusername]

They can offer a statement of all transactions, just ask in app…it does come in pdf tho

If you’re just starting out, I’d recommend starting to monitor your portfolio outside of FT from the beginning, keeping on top of transactions.

ADVFN (https://uk.advfn.com) will do this (free account). You can track cash, fees, buys, sells, dividends, unrealised and realised profit etc. Don’t be out off by the 90’s website vibe.

[Bigbluescot (CBN)]

I’ve just been informed that Freetrade is again not providing CTV’s to its GIA account holders.

I first requested a CTV for my annual tax return in 2019-20 and was instead provided with a statement of trading activity which ran to a couple of thousand lines. I was assured by Freetrade that they were developing their systems to provide CTV’s and would be available in future.

I can’t believe that provision a CTV is not an FCA requirement! My other investment platforms provide them as a matter of course.

Any GIA investor should know that drawing up their own CTV from a statement of trading activity is a considerable undertaking! Whereas, Freetrade’s systems should be able to do on an automated basis.

As an GIA account holder (and Freetrade investor) I am very concerned about this failure to provide required information which surely must be a disincentive anyone considering opening a GIA on the Freetrade platform.

I’d be grateful if anyone knows of any software that would help form a CTV from a statement of trading activity (which is provided by Freetrade upon request in ms excel format).

[J4ipod94]

The lack of reporting is disappointing especially given it’s been 3 tax years gone since first requested. To make matters worse it’s not easy to find dividend activity in the app. For detailed Dividend info you will need to sift through your dividend notification emails assuming you haven’t deleted them. Freetrade’s competitors all offer some form of a Dividend and/or Tax reporting
If you haven’t already you can vote for the feature here:

[Feature Request ] Annual Tax Certificate

Other providers of savings accounts and also investment accounts provide an Annual Tax Certificate to make filling out self assessment tax returns easier. This feature would be really useful if it could break down the Capital Gains/Losses, UK dividends and Forign dividends in to seperate sections produced in a single Annual Report for each account. It would make doing what can be what is an already stressful process without investments much easier if this feature was added. Really hoping for …

Documents & Reporting

There are a number of topics on various documentation based features and ideas (which ive linked below). I wanted to consolidate some of these and give some ideas and reasons why I think reporting and documentation is an important feature. (If anyone has any use cases and ideas please add them in a post) At the moment the only available exportable documentation is the monthly statements, and while these are nice and better than nothing, they are quite limited in usefulness as they give limited…

[Bigbluescot (CBN)]

Thanks for info and I will up vote.

Due to the situ and not having a choice but to complete an annual tax return, I’ve also transferred all stock held in my FT GIA to a platform which does provide CTV and cancelled my plus subscription. I’ll retain my ISA for now.

[Bruce]

As an FYI, I have a large company filing my UK tax, and I have had this response from them:

In regard to the Freetrade activity, having checked with the wider team here at xxx, it appears that Freetrade do not provide investors with the UK tax friendly reports and as such we will need to manually calculate the capital gain/loss positions with respect to the disposals in your account.
For UK tax purposes, we must calculate the capital gain/loss positions based on a share pool for each security. As such, this will be a more time intensive task as we will need to track the various share purchases and disposals. Our charges will be £50/per capital transaction.

Noting that one may make many many transactions this can be a heart attack situation, so plannin gon doing myself lol

[ftdcominfra]

Yes an annual tax cert would be useful for income and capital gains. I have requested this in the latest survey they have sent out today.

Dividend reporting is my biggest challenge as capital gains are so far under the allowance limit

[Hugh (HW)]

Freetrade’s refusal to provide this simple report (or even engage with the topic) is the reason I don’t recommend the platform to friends… and I’m an investor!

| ftdcominfra
15 August |

• | - |

Yes an annual tax cert would be useful for income and capital gains. I have requested this in the latest survey they have sent out today.

Dividend reporting is my biggest challenge as capital gains are so far under the allowance limit

[BlueSonic]

just had my Etoro tax report, they even list where in the SA box things go …
all auto generated…
Why cant FT provide something, anything

[ysibre]

I am liquidating my GIA this tax year for this very reason

[House]

I can’t understand why this isn’t prioritised. It is frankly embarrassing that this isn’t available. We were asked what we wanted to see on it, and most of the work was completed for it, and all the data must be available. This request thread had been going for nearly three years. And yet there is time to piss about with NFTs and merch.

[BlueSonic]

exactly , how hard can it be
a customer requests their tax cert,
it fires off a bunch off requests to the data base

$connection = mysql_connect(“localhost”, “root”, “”);
$query = mysql_query(“select * from tablename”, $connection);
if (mysqli_num_rows($result) > 0) {
// output data of each row
while($row = mysqli_fetch_assoc($result)) {
echo "id: " . $row[“id”]. " - Name: " . $row[“firstname”]. " " . $row[“lastname”]. “
”;}} else { echo “0 results”;}

answers come back and its all bundled up into a nice PDF

[Hugh (HW)]

I don’t think Freetrade admin even looks at this thread. I’ve asked the question via Twitter and I’ve emailed the management. I’ll be interested to see if I get a response…

[House]

@NeilB @bitflip Please can you highlight this again as an issue.

[bitflip]

It has. Freetrade developers and product managers frequent these pages. I am sure an impact/resource assessment has been made and squared with whatever the on-going priorities are.