Dear Client
To ensure we can identify requests on Freshdesk as quickly as possible, we have re-activated the Tax Year End (TYE) indicator and would ask that you use this where appropriate please.
To apply funds to the 2022/2023 Tax Year, we require the funds to have cleared into the account by 11:59 PM on the 05/04/2023 and the corresponding expectation to have been sent/submitted by the same time. The expectation submitted must be fully and correctly submitted via the portal (i.e., must exactly match the funds sent/received).
Even if we have not reconciled the account, provided the funds have cleared and we have received the corresponding expectation before the TYE then we can apply.
Ideally, we would like all expectations and funds to have been submitted/received by Friday 31st March, as per our deadlines below, but we cannot exclude anything received after, provided it is supplied as above.
Criteria for electronic payments:
In line with our normal procedures, money received from an account that is not the nominated bank account, will need to go through an additional validation step. To avoid this, we would ask that you ensure investors only use their nominated bank account. Where this is not possible, please see the deadline noted below for providing secondary bank account information.
The expectation submitted must be fully and correctly submitted via the portal (i.e., must exactly match the funds sent/received).
Criteria for cheque payments:
Our preference is for investors to pay electronically wherever possible.
If a cheque is the only option, please ensure that these are with us by Friday 17 March 2023. We cannot accept requests to amend subscription dates because of cheques that arrive after this date.
Please note that we are unable to confirm receipt of funds same day. Our system runs bank statements overnight, so any payments made today will show up the following day at the earliest. Therefore, please check the portal a few days following payment instead of calling up same day or raising as an escalation.
Deadlines:
HUBWISE | |
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Bed and ISA instructions (Consider relevant stock settlement dates) |
Thursday 23 March 2023 |
Cheque payments |
Friday 17 March 2023 |
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Electronic payments (From nominated bank accounts) |
Friday 31 March 2023 |
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Providing secondary bank account information (To ensure electronic payments can be processed within the 2022-23 tax year) |
Friday 24 March 2023 |
New applications |
Thursday 23 March 2023 |
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Regular contributions - 1 April 2023 collection date
(We must have received full completed DD and contribution forms)
|
Friday 10 March 2023 |
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New SS&C Hubwise SIPP drawdown requests with taxable income
(The portal information must be uploaded, and all forms must be fully completed)
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These must submitted a minimum of 10 working days prior to the two payroll dates which are as follows: |
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One-off income drawdown payments, portal information must be uploaded, and all forms must be fully completed.
(The last payroll date for the 2022-23 tax year will be 28 March 2023) (The first payroll date for the 2022-23 tax year is 14 April 2023)
|
Friday 10 March 2023 |
Intelligent Money | |
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Tax-free cash and income requests All income must be processed and paid out by 31st March in order to be counted in the 2022-2023 Tax Year |
Friday 31 March 2023 |
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All new TFC and Income requests must be received by 1st March to be guaranteed to be processed before the end of the Tax Year.
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Wednesday 1 March 2023 |
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New applications and transfer requests (While transfers can be instructed, IM cannot guarantee that the funds will be received in the 2022-23 tax year) |
Friday 31 March 2023 |
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Regular contributions which require investment in the 2022-23 tax year (1 April 2023 collections will be invested in the 2023-24 tax year) |
Please contact IM as early as possible, to move the collection date to 28 March 2023 |
Kind regards
Douglas Boyce
Managing Director
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