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Buying gilts - which platform to use?
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They will tell you the dirty price - the price you have to pay per unit. For a conventional gilt the difference between the clean price and the dirty price is the accrued interest. If you want to see what the accrued interest is on any given day just look at that page I linked earlier. It has a column showing the amount and the number of days. It also shows clean and dirty prices - OK it may not be updated in real time but it is still useful information and stops you trying to do sums while the 15 second timer ticks down.
Another copy of the link for you
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I get a tax certificate from HL each year and they said this is for my self assessment. Similar to those tax certificates of interest for savings, so I would think these are sent over to HMRC as they are prepared for that very purpose by HL, and the certificates for interest from savings from the banks are sent to HMRC, so this would be similar I would expect.
I didn't get these tax certificates when I was with Fidelity so maybe some of the larger platforms, like HL, do it and the smaller ones don't.
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thanks, yeah, with the ticker, you can't be doing sums!
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Looking at an old certificate it says a copy will be produced if required to FICO (a bit of HMRC) so it looks like it is not sent automatically.
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Fidelity do send users tax certificates annually, they call them tax vouchers (distribution and tax letters). They don't say they send them to HMRC, instead you're meant to keep it to help you complete your tax return and in case HMRC ask to see it.
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No, they're for you to use. I don't use them, I keep my own, more accurate records e.g., Barclays Stockbrokers' tax certificates always used to misclassify a foreign interest payment from a bond IT as a foreign dividend. Last year's tax certificate from CMC misclassified foreign dividends as UK dividends and IT dividends as unit trust dividends. CMC doesn't offer unit trusts…
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I have the luxury of being able to fit all of my investments within tax wrappers. I have only been holding short-term cash unwrapped.
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For what it is worth I have some gilts outside an ISA and they tend to be the low coupon ones (ILGs) which mean you have very little income tax to pay and most of the return is capital gain which is outside the scope of CGT. I think it would be a bit of a waste to put that sort of gilt in an ISA. The ones I do have in the ISA tend to be higher coupon ones where more of the return would be subject to income tax if held outside the ISA. The trouble is the new issue gilts (conventional anyway) tend to have higher coupons and so the low coupon ones are getting rarer all the time.
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like the tax certificates that you get from savings account. they don't say that they send them to HMRC but they do. HMRC get a lot of information that you aren't actually aware of until you get into trouble 😂
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BBSI returns are separate. The equivalent doesn't yet exist for investment accounts.
Have a look at section 5:
"HMRC does not require regular annual returns from third parties about dividend payments paid to UK resident individuals unless it is for overseas financial accounts reported under CRS…"
https://www.gov.uk/government/consultations/better-use-of-new-and-improved-third-party-data/better-use-of-new-and-improved-third-party-data-to-make-it-easier-to-pay-tax-right-first-time
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