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  • FIRST POST
    • Sally1436
    • By Sally1436 6th Jan 18, 1:15 AM
    • 9Posts
    • 3Thanks
    Sally1436
    Investment hub
    • #1
    • 6th Jan 18, 1:15 AM
    Investment hub 6th Jan 18 at 1:15 AM
    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...
Page 1
    • eskbanker
    • By eskbanker 6th Jan 18, 12:47 PM
    • 7,446 Posts
    • 8,018 Thanks
    eskbanker
    • #2
    • 6th Jan 18, 12:47 PM
    • #2
    • 6th Jan 18, 12:47 PM
    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
    • By dunstonh 6th Jan 18, 1:23 PM
    • 93,016 Posts
    • 60,403 Thanks
    dunstonh
    • #3
    • 6th Jan 18, 1:23 PM
    • #3
    • 6th Jan 18, 1:23 PM
    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?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Sally1436
    • By Sally1436 7th Jan 18, 6:29 AM
    • 9 Posts
    • 3 Thanks
    Sally1436
    • #4
    • 7th Jan 18, 6:29 AM
    • #4
    • 7th Jan 18, 6:29 AM
    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
    • By Sally1436 7th Jan 18, 10:48 AM
    • 9 Posts
    • 3 Thanks
    Sally1436
    • #5
    • 7th Jan 18, 10:48 AM
    • #5
    • 7th Jan 18, 10:48 AM
    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
    • By greenglide 7th Jan 18, 11:16 AM
    • 3,104 Posts
    • 2,020 Thanks
    greenglide
    • #6
    • 7th Jan 18, 11:16 AM
    • #6
    • 7th Jan 18, 11:16 AM
    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
    • By jimjames 7th Jan 18, 11:48 AM
    • 12,651 Posts
    • 11,314 Thanks
    jimjames
    • #7
    • 7th Jan 18, 11:48 AM
    • #7
    • 7th Jan 18, 11:48 AM
    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!
    Originally posted by greenglide
    OP seems unclear what it is. Post #1 says not ISA, post #4 says it is.

    Quite important to find out!
    Remember the saying: if it looks too good to be true it almost certainly is.
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