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Contractor Company with Hargreaves Lansdown Invest

Contractor Company with Hargreaves Lansdown Invest

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Hello,

I have a few IT/Contractor (non IR35) type Co's with reasonable bank balances who have had enough of poor interest rates and have turned to investments through providers such as Hargreaves Lansdown.

I did some accounts accounts to 31/10/18 last year and and found it a real struggle to get the information required for the accounts. Income was fine although it came in the form of  a Consolidated Tax Voucher to 05/04/18 so 06/04-31/10/18 was hard work to extract from the client/financial advisor/HL (accounts done pre 05/04/19). 

The amounts are very small but I wanted to at least try and get the CGT position correct and various disposals had taken place to fund ongoing monthly charges and it was a real pain putting this together from the account activity spreadsheet provided.

I assume that others have more experiance with this and I wondered how you are dealing with this (particulary HL). Are comprehensive reports available (presumably from an online platform) to make this straightforward that my client and his financial advisor may not be aware of? Does an investor have online access to HL paltform to view transactions?

The Financial Advisors seem to think i'm being a pain requesting these and I think they see these investments as being treated in the same way as ISAs with no requirement to include income/gains/disposals..........................

Dealing with these investments has become the most time consuming element of these jobs so any guidence would be very much appreciated!

 

 

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By johnt27
11th Jul 2019 15:47

As a HL customer they provide quarterly performance/valuation reports as well as being able to access all movements on investments/income/cash balances online.

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to johnt27
11th Jul 2019 16:03

Great, so my clients should have their own online login to download reports for me?

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By DJKL
11th Jul 2019 19:00

I get a six month report, to 31/10 and then 30/4 from them, these are added to my online account and are then available to download/print. These give the holdings at each period end and also details of all transactions on both income and capital account in each period.

Whilst mine are all tax sheltered I have a client company who also use them, re their transactions I record all the pools on excel each year rather than relying on HL reports being available as and when there are future disposals, in case the client moves to another platform and has in future no access to HL (Client also prints out all contract notes)

I in addition prepare excel sheet of monthly dividend per holding , interest received and account fees each year and ensure I can reconcile transaction totals to HL period end statements. (It helps that client's year end is now 30.4)

Thanks (1)
By DJKL
11th Jul 2019 19:09

Should have said, once your client logs into HL the reports are a little buried, if he puts a mouse over ( top right )"My Account" and then clicks "Portfolio History" then there will be a list of "spring" and "winter" "investment reports" down page on the right, click each and a pdf report opens with all the six month details/ transactions.

Trust this assists.

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