Dear IG Community,
As we are approaching the statements period. We would like to share some information on UK Consolidated Tax Certificates (CTC) statements. The aim of this post is to provide you with some key information on UK CTC statements release and hopefully clear out some questions you may have.
1) What is a CTC ?
It is a document for UK fiscal resident clients and is used to show the dividends received in a tax year and the breakdown of the different types of instruments that have paid them (shares, ETFs, REITs)
2) Will I receive a CTC ?
You will receive a CTC if you have received dividends during the tax year. If you haven’t received any dividends during the tax year you won’t receive a CTC.
CTC's will not be generated for ISA or SIPP accounts. ISA and SIPP accounts are not tax reportable, so we don’t send out any tax documents for these accounts.
For non-UK tax residents, an Income Summary can be provided on request
3) Where can find my CTC ?
You will be able to view and download your CTC (in pdf format) by going to My IG > Live accounts > Statements > Annual
4) When will the CTC be available?
Your CTC will ideally be ready around by end of July but it can be released later on. The reason why we can’t give a clear ETA is because there is delay between the end of financial year and when the statements are ready.
This delay is due to the wait time for incomes to reach IG, for example US ETFs incomes tend to take longer before we receive the data. IG needs to receive incomes on our extensive list of international security types . The certificates are sent once all incomes has been received at IG and classified.
5) What will the statement contain?
The format this year will be the same as previous year, a line by line and summarised description of domestic and overseas income received in GBP-equivalent.
Please be aware that we do not provide any capital gains (sometimes called P&L) statements for share dealing accounts.
We do not generate tax statement for spread betting accounts since spread betting does not attract capital gains tax or stamp duty in the UK
You can find further information on the link here https://www.ig.com/uk/help-and-support/accounts-and-statements/statements/what-statements-will-i-receive
For Australian clients:
The process is similar. We will provide you with further information once the AUS office update us on the 2022 statements.
If you need further information please comment below.
All the best - Arvin