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Hargreaves Lansdown and stock splits

The last time there was an Apple stock split my subsequent HL 6 monthly report "showed" I'd lost a bundle on Apple, on account of the price crashing from $700 to $100  :smiley:
Will be interesting to see if they've improved in the past 6 years now there's a 4 for 1 coming up with Apple and I've got substantially more invested.
.
i wonder if I could use that to claim a CGT loss  :smiley:

Comments

  • Malthusian
    Malthusian Posts: 11,053 Forumite
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    HMRC wouldn't buy it. You could then try a complaint against HL on the basis that you relied on their report to file your taxes, however they would probably point you towards the small print that says "These reports are for entertainment purposes only" :)
    (There is a slightly serious point here - tax reporting standards of many platforms are shocking, especially in the DIY sector, as illustrated by AnotherJoe's example.)
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    If you hold more shares why did the value of your holding fall?  
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    edited 31 July 2020 pm31 7:58PM
    Good question. The report on question simply looked at my holdings and in effect said "Apple at start of period $700, at end of period $100, therefore loss = 600 a share."
     :D 
    it may even have said x number of shares = $600 X x  loss. I'll have a look later.
    EDIT : It didnt at least do that, see below, it just said that apple shares had dropped 76% when they had actually risen 63%.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    edited 31 July 2020 pm31 4:43PM
    HMRC wouldn't buy it. You could then try a complaint against HL on the basis that you relied on their report to file your taxes, however they would probably point you towards the small print that says "These reports are for entertainment purposes only" :)
    (There is a slightly serious point here - tax reporting standards of many platforms are shocking, especially in the DIY sector, as illustrated by AnotherJoe's example.)
    I did complain at the time. 
    Your comment was very perceptive, sinCe I'd summarise their  response as "meh these reports make no pretence to be accurate ". 
    ;-)
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    edited 31 July 2020 pm31 7:59PM
    Here we go, just pulled up the report, it was as dumb as, looked at price on one date, looked a year later, didnt look for stock  split. (which was 7:1)


    So, if Apple shares did nothing between those two dates then they should have been 34,959 / 7 = 4,994 one year later . As it was they were 8,143 or 63% higher. Dumb as a box of spanners as my dad would say.

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