Investment hub

Sally1436

Hi

Im new this.

I have some money in Santamder investment hub. Its an investment account and is not an ISA. Ive been trying to work out to find what the interest ive recd. Ive had no statements and on the platform i csnt find anywhere where it tells me what interest i have recieved.

Im assuming i need to put the interest on my self assessment form for my tax return.

Is anyone able to guide me pretty please...

eskbanker

Surely you'd only receive interest if you left the money in there in cash form rather than investing it, which would seem to be self-defeating for a product like that, i.e. why would you leave cash in an account paying 0.2% if it's primarily intended for use by investors?

dunstonh

Ive been trying to work out to find what the interest ive recd.

If you have used unit linked investments then you would not have interest. The funds may have an income distribution of you bought income units. However, these would either be dividends or interest distributions depending on what type of investments you chose. If you bought Accumulation units, then there are no distributions.

Ive had no statements and on the platform i csnt find anywhere where it tells me what interest i have recieved.

platforms currently issue statements on a 6 monthly basis. I believe that is going to quarterly from this year under MiFID II rules.

Im assuming i need to put the interest on my self assessment form for my tax return.

You havent told he what investments you have. However, there are more invested in equities than fixed interest. So statistically, it is unlikely there is any interest but dividends instead. Which go in a different place on the tax return.

Why did you not invest in an ISA?

Sally1436

I had walkes into a santander branch a gew years ago and on advice i opened an isa and invested some.

If i remem er right the lasy had said ot was low risk.

Last year i recieved a letter sayi h they are transferring into onto a hub. So i called them up and the person i said it wouldnt make a difference as the cost was minimal.

Im not number savvy but am starting to learn.

Anyway i know on the hub its 50% shares portfolio....whatever that means. It says it is 85% shares and some cash
Ive also recd a letter from the hub telling me they sold some to cover the charge the hub charges.

But i know ive defo not recd any letyers

Sally1436

I found the dividend report.....phew.

Thanks!

I ll do the tax return and then look at where is a better place to invest.

Investment hub probabaly isnt the best for someone who isnt clued up on investing.

greenglide

If it is an ISA (and you said it was) then there is nothing to put on a tax return. If you put any figures from an ISA on a tax return you are liable to be taxed on it!

jimjames

greenglide wrote: »

If it is an ISA (and you said it was) then there is nothing to put on a tax return. If you put any figures from an ISA on a tax return you are liable to be taxed on it!

OP seems unclear what it is. Post #1 says not ISA, post #4 says it is.

Quite important to find out!