No annual statement, no record of profit/loss per trade - how to determine tax liability?

[Mysno]

Hi,

I've browsed some of the community Q&A and it seems a bit inconsistent as to who gets what statements in their account.
I've been trading with IG since 2018, but:
1. In 'Annual' statements - nothing is provided
2. In 'Monthly' statements, 3 random months are provided (2 in 2020 and 1 in 2019)
3. In 'history' of transactions, it shows the sale price but doesn't seem to show the profit/loss from the trade

Is this information available somewhere? Otherwise how is one to determine profit over the course of a particular period in order to file a tax return on earnings?

[will3]

did you find an answer? i need the same thing

[Mysno]

No answer. Took days for my community question to be approved and I'd stopped tracking - so your question here is what told me that this was back in.

No answer received so far - @ig is there anyone from the IG team to address these queries?

[Plugger69]

I'm following this thread as well as I just asked the same questio0n, but waiting for my post to be approved. You would think this was one of the most important pieces of information for investors!

[Mysno]

Still nothing @ig - what's the point of a community if you don't support it with answers to basic questions?

[Koeln]

I'm following this thread as well.

In fact the annual statement that is available for download show 0 Capital Gain/Loss,
while when trade history is downloaded and all calculations are made manually there is a gain.

So not only does IG not provide a statement that can be used for tax purposes,
the statement that is provided is wrong and gets you in trouble...

 

[Quacker]

I trade on the ASX via the IG share trading platform (Not CFDs) and have my daily statements sent via email to Sharesight, this pulls all my trading data and all I have to do come tax time is select generate tax report.  Pretty simple.

[BigDeal]

I depends on your own tax jurisdiction, and the type of instruments / wrappers you are using will determine what type of statements you receive.   In the UK  this is the situation:

https://www.ig.com/uk/help-and-support/accounts-and-statements/statements/what-statements-will-i-receive

If you are not in the UK maybe there's a similar page somewhere for you

 

[Tcs106]

I'm a UK resident and I have both a Share Dealing and Smart portfolio account with IG UK. The income (dividends) I receive is highlighted in the Consolidated Tax report that I generally get after the end of the tax year. With regards to CGT, I use an online calculator after pulling all the information from the history tab for both accounts. Any questions please let me know. 

[MarkoG]

On 19/08/2020 at 21:22, zarathustra said:

Dear team

New user here and I have a quick question.  I came across to your platform due to the competetive brokerage fees and I am happy enough so far.  But I must say I'm surprsied to discover that the basic layout / functionality of all other trading websites I have used is missing.

In particular, the ability to export your CURRENT positions as an excel file (CSV, etc).  I'm not interested in exporting my trading history - I wish to export my CURRENT positions so I can do some analysis of my weightings etc. This is a core routine task performed by sophistocated and amateur investors, yet it is missing from your otherwise very sophistocated platform.

Such a basic product feature but bizarrely missing?

And while I am here it is worth suggesting that you should also copy your competitors and have additional (optional) tabs in the Positions screen - such as showing your positions in your domestic currency and also your individual P&L expressed as a % for each individual holding.

Your help in relation to the Excel question most appreciated.

 

On 18/12/2017 at 05:39, seshlihem said:

Hello,

 

I get the above message when trying to buy PML.

 

It also says 'the market you have requested is no longer available online'. How do I buy this one please? 

 

On 11/06/2021 at 03:03, ShareRover said:

I also have the same question - as I have the same issue, i.e., the 2020 - 2021 consolidated tax certificate is not available.  Any assistance would be much appreciated...

 

On 11/01/2021 at 08:00, Mysno said:

Hi,

I've browsed some of the community Q&A and it seems a bit inconsistent as to who gets what statements in their account.
I've been trading with IG since 2018, but:
1. In 'Annual' statements - nothing is provided
2. In 'Monthly' statements, 3 random months are provided (2 in 2020 and 1 in 2019)
3. In 'history' of transactions, it shows the sale price but doesn't seem to show the profit/loss from the trade

Is this information available somewhere? Otherwise how is one to determine profit over the course of a particular period in order to file a tax return on earnings?

 

On 11/01/2021 at 08:00, Mysno said:

Hi,

I've browsed some of the community Q&A and it seems a bit inconsistent as to who gets what statements in their account.
I've been trading with IG since 2018, but:
1. In 'Annual' statements - nothing is provided
2. In 'Monthly' statements, 3 random months are provided (2 in 2020 and 1 in 2019)
3. In 'history' of transactions, it shows the sale price but doesn't seem to show the profit/loss from the trade

Is this information available somewhere? Otherwise how is one to determine profit over the course of a particular period in order to file a tax return on earnings?

 

[MarkoG]

RE: END OF YEAR - TAX SUMMARY

In July 2020 (Last Financial Year here in Australia). I contacted IG by phone and they told me firstly that the report should be uploaded to their site August. I had to wait till OCTOBER to get it.

I had to stall putting in my tax return, which costed me money as I am a pensioner and I could have enjoyed a higher rate of pension if I lodged my tax return earlier. 

Even a CSV export of all transactions would be great !!!

Please IG ..... Lets get it done earlier this year.

Edited June 17, 2021 by MarkoG
Left some text out

[PeterLondon]

On 03/06/2021 at 11:47, Tcs106 said:

I'm a UK resident and I have both a Share Dealing and Smart portfolio account with IG UK. The income (dividends) I receive is highlighted in the Consolidated Tax report that I generally get after the end of the tax year. With regards to CGT, I use an online calculator after pulling all the information from the history tab for both accounts. Any questions please let me know. 

Hi, I am also from the UK and struggling to figure out my capital gains tax liability. I am curious which software do you use and find useful. Thanks in advance Peter

[Tcs106]

I've been using the following online calculator to calculate my CGT liability: http://www.cgtcalculator.com

You will need to transform the data you get from IG to make it compatible with the online calculator but I've found it to be very useful. 

Any questions, please let me know.

[thatsthatmattressman]

On 17/06/2021 at 13:24, MarkoG said:

RE: END OF YEAR - TAX SUMMARY

In July 2020 (Last Financial Year here in Australia). I contacted IG by phone and they told me firstly that the report should be uploaded to their site August. I had to wait till OCTOBER to get it.

I had to stall putting in my tax return, which costed me money as I am a pensioner and I could have enjoyed a higher rate of pension if I lodged my tax return earlier. 

Even a CSV export of all transactions would be great !!!

Please IG ..... Lets get it done earlier this year.

Did the report eventually appear on this screen?

[thatsthatmattressman]

On 03/06/2021 at 17:33, Quacker said:

I trade on the ASX via the IG share trading platform (Not CFDs) and have my daily statements sent via email to Sharesight, this pulls all my trading data and all I have to do come tax time is select generate tax report.  Pretty simple.

I couldn't get Sharesight to work for IG Share trades .. do you forward the individual trades (the individual emails per trade) to Sharesight ..or the daily email summary they send via .PDF?

[Quacker]

It's the daily PDF, I had IG set it up so that they send a copy to my private email and the sharesight email address for imports.

On 15/07/2021 at 15:54, thatsthatmattressman said:

I couldn't get Sharesight to work for IG Share trades .. do you forward the individual trades (the individual emails per trade) to Sharesight ..or the daily email summary they send via .PDF?

 

[MarkoG]

4 hours ago, Quacker said:

It's the daily PDF, I had IG set it up so that they send a copy to my private email and the sharesight email address for imports.

 

I know nothing of the firm you speak of. Only the fact that IG Markets make available an Annual Statement. Sceduled for August.