Practical post retirement: tracking things?

[Gilgongo]

You do know that income from your ISA doesn't count towards your taxable threshold, and HMRC won't ever need to know about dividends in them?

Indeed. I meant if HMRC ever asked. Sorry, didn't make that clear.

[monabri]

I manage using two Excel Files.

File1. Shareholdings tabulated in HYPTUSS.

File 2. Shareholdings tabulated in a MAIN ACCOUNT directory. (Shares listed in the same order as in HYPTUSS.)

The 2 files are held in separate directories with copies held on a separate device.

The HYPTUSS file is used only to scrape prices and to feed into the MAIN ACCOUNT file.

I do a cross check between the two files ( Value of File 1 - Value of File 2 = zero ....if not, error!).

In the Main Account file I have several ( ahem!) worksheets.

1. Dealing records
2. Dividend schedule ( company, account name , qty, dividend per share, total dividend, xd date, pay date xirr check, received check). This, I update manually...a mix of angst and joy ( who doesn't like recording a divi...even if it means tracking them?)
3. A sheet tabulating XIRR values (individual tables for each held share)
4. A sheet generated by pivot table summarising dividends in taxed and untaxed accounts.
5. A sheet summarising XIRR on shares held
6. A sheet containing cashflow in/out of the accounts.
7. A ' weighting ' sheet. Portfolio arranged in descending value ( value and percentage of total) and what type of investment (HYP, Income IT, Growth IT, Pref, Bond, Gilt)

The pivot table is used to track the extent of taxable dividends in my and my wife's accounts in ii and iWeb. It is also used to estimate tax payable and, in the New tax year, the best shares to ISA to reduce tax. Thus 'account name' can be one of eight names!

A man's gotta have a hobby... occasionally I get out! :

(Way off base now but very important! ) - There is one calculation that I do on the main sheet...I compare number of days I've lived versus number of days my father lived. I'm in credit by 2 years. I want to be in a lot more credit.... it's a reminder ...Carpe Diem!

[kempiejon]

(Way off base now but very important! ) - There is one calculation that I do on the main sheet...I compare number of days I've lived versus number of days my father lived. I'm in credit by 2 years. I want to be in a lot more credit.... it's a reminder ...Carpe Diem!

Further OT. but I think its vital, especially as FI gets done. I was telling a much younger, financially precarious, chum that, with the money sorted I'm now focussing on the life which, like money, is easier the earlier you start. My 20 year old self has a lot to learn next time I see them.
I heard about a book title recently, 4000 weeks, I looked it up and know the author but not bothered with the book, saw a the film, wasn't that good,
FIRELL.

[Gilgongo]

Thanks all - and wow what a variety!

I think I'll just keep things super simple at first seeing as I won't need to declare anything for tax. Maybe just tot up spending each year and use previous year's divi total to determine the amount needed for the next year's cash bridge. It'll probably evolve from there I would think.

[TahiPanasDua]

I manage using two Excel Files.

File1. Shareholdings tabulated in HYPTUSS.

File 2. Shareholdings tabulated in a MAIN ACCOUNT directory. (Shares listed in the same order as in HYPTUSS.)

The 2 files are held in separate directories with copies held on a separate device.

The HYPTUSS file is used only to scrape prices and to feed into the MAIN ACCOUNT file.

I do a cross check between the two files ( Value of File 1 - Value of File 2 = zero ....if not, error!).

In the Main Account file I have several ( ahem!) worksheets.

1. Dealing records
2. Dividend schedule ( company, account name , qty, dividend per share, total dividend, xd date, pay date xirr check, received check). This, I update manually...a mix of angst and joy ( who doesn't like recording a divi...even if it means tracking them?)
3. A sheet tabulating XIRR values (individual tables for each held share)
4. A sheet generated by pivot table summarising dividends in taxed and untaxed accounts.
5. A sheet summarising XIRR on shares held
6. A sheet containing cashflow in/out of the accounts.
7. A ' weighting ' sheet. Portfolio arranged in descending value ( value and percentage of total) and what type of investment (HYP, Income IT, Growth IT, Pref, Bond, Gilt)

The pivot table is used to track the extent of taxable dividends in my and my wife's accounts in ii and iWeb. It is also used to estimate tax payable and, in the New tax year, the best shares to ISA to reduce tax. Thus 'account name' can be one of eight names!

A man's gotta have a hobby... occasionally I get out! :

(Way off base now but very important! ) - There is one calculation that I do on the main sheet...I compare number of days I've lived versus number of days my father lived. I'm in credit by 2 years. I want to be in a lot more credit.... it's a reminder ...Carpe Diem!

Monabri, I am gob-smackingly impressed by such meticulous monitoring and record keeping. Very well done indeed!!!

I admit to being a lazy hound at the other end of the spectrum who has, for example, never checked an individual dividend receipt in almost 50 years of investing. I don't think I have ever checked the amount or actual receipt of any dividend. This will seem like near-certifiable lunacy given that I live almost entirely on dividends as I have no pensions, even the state pension. My wife has a tiny £6k per annum pension. This is the result of 42 years of irresponsible international vagrancy.

OK, frighten the pants off me! Has anyone had the experience of significant underpayment of divis? On second thoughts, maybe I really shouldn't ask.

Lest anyone thinks I am a complete basket case, I do manage total dividends accumulated by ensuring a dividend holding bank account that pays a monthly sum into a spending account. We typically spend only about 75% of dividends received despite no particular effort to budget or save money. We are not big spenders by nature so hedonic inflation is not an issue.

TP2

[tjh290633]

OK, frighten the pants off me! Has anyone had the experience of significant underpayment of divis? On second thoughts, maybe I really shouldn't ask.

Lest anyone thinks I am a complete basket case, I do manage total dividends accumulated by ensuring a dividend holding bank account that pays a monthly sum into a spending account. We typically spend only about 75% of dividends received despite no particular effort to budget or save money. We are not big spenders by nature so hedonic inflation is not an issue.

TP2

Occasionally I find a discrepancy between what I thought my cash balance should be and what the ISA manager says it is. Usually a mistake on my part. I check back through dividends received as recorded on the website.

The discrepancy is usually due to one of several mistakes.

1. Failure to update number of shares after a sale or purchase.

2. Getting the payment date wrong, usually out by a month.

3. Getting the dividend per share wrong, usually a typo.

It's always worth doing a periodic check. We are all fallible.

TJH

[gryffron]

You do know that income from your ISA doesn't count towards your taxable threshold, and HMRC won't ever need to know about dividends in them?

Indeed. I meant if HMRC ever asked. Sorry, didn't make that clear.

They won’t ask. There is no requirement on brokers to document your income/gains from an ISA, either to you, or to HMRC. No Consolidated Tax Certificate. Explicitly nothing to report.

This lack of documentation can cause significant problems to foreign residents, who may have to pay foreign tax on their ISA earnings. If you want the figures for your own use, you will have to look at the cash settlement and add them up yourself.

Gryff

[scrumpyjack]

Indeed. I meant if HMRC ever asked. Sorry, didn't make that clear.

They won’t ask. There is no requirement on brokers to document your income/gains from an ISA, either to you, or to HMRC. No Consolidated Tax Certificate. Explicitly nothing to report.

This lack of documentation can cause significant problems to foreign residents, who may have to pay foreign tax on their ISA earnings. If you want the figures for your own use, you will have to look at the cash settlement and add them up yourself.

Gryff

The only reason HMRC might need to know of dividends in your ISA, AFAIIA, is if your executor is trying to demonstrate that gifts made were out of income and so not subject to IHT. ISA income can be included in the calculation of available income for that purpose. I have kept details for my executors for that reason.

[Dod101]

They won’t ask. There is no requirement on brokers to document your income/gains from an ISA, either to you, or to HMRC. No Consolidated Tax Certificate. Explicitly nothing to report.

This lack of documentation can cause significant problems to foreign residents, who may have to pay foreign tax on their ISA earnings. If you want the figures for your own use, you will have to look at the cash settlement and add them up yourself.

Gryff

The only reason HMRC might need to know of dividends in your ISA, AFAIIA, is if your executor is trying to demonstrate that gifts made were out of income and so not subject to IHT. ISA income can be included in the calculation of available income for that purpose. I have kept details for my executors for that reason.

I track and record my dividends from ISAs and my SIPP for my own purposes so I suppose that would be useful for executors in the event……..These apart from the SP constitute my main income anyway.

Dod