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What statements will I be sent for my account(s) and what do they tell me?
What statements will I be sent for my account(s) and what do they tell me?

The statements you'll get for each account type

S
Written by Sadie Cash
Updated over a week ago

Over the course of the year, you'll be sent a few different account statements to your documents area of the app (found in your notifications πŸ””). Once they're available to view in the app, your statements can be shared via email or downloaded to your phone.

Different statements tell you different things about your account(s). The statements automatically sent out include:

All account types

Quarterly statements

No surprises here, these documents are sent to you every quarter of the year and will give you a valuation of your account for the previous 3-month period. It includes the costs of your investments, their value on the date your statement is published, and the change between the cost and value. You won't be told when these statements land in your app every quarter, but they'll be there to view if you ever need them!

Remember, you can see your account's current valuation anytime, just by logging into the app and tapping on the account you want to view the value of. If you need a current valuation, or a valuation for a specific period, in document form, that's no problem - just message the team to request this and they'll get this uploaded to your documents area ASAP. πŸ“«

Annual costs and charges statement

This statement gives you a full breakdown of all your charges for your Dodl account in the previous calendar year (1 Jan - 31 Dec). πŸ“… If you have more than one Dodl account, you'll get a separate annual costs and charges statement for each account you have.

It can look a bit daunting at first (lots of numbers!) but the statement is broken down into a few smaller sections to make it easier to get to grips with.

The first table shows you the total charges taken, including your Dodl account charge (0.15%, min Β£1/month), any fund manager charges deducted directly from your investments, and any additional charges such as stamp duty, foreign exchange charges and fund transaction costs. All charges are shown in both 'Β£' and '%' format.

You'll also be able to see a 'cumulative affect of charges on investment returns' table...catchy isn't it?! This is particularly helpful because it lets you see how your investments are doing after all your charges are taken, giving you a real gauge of your investment returns. πŸ“ˆ

The final page of your annual costs and charges statement is dedicated to your fund managers' charges. Here you'll see a table which breaks down the ongoing charges and transactions costs of any funds you're invested in, plus any extra charges which may have been deducted by your fund managers. Again, you can see the value of these in Β£s and as a percentage of your investment in the fund(s).

This is a really helpful document to glance over each year, so we'll be sure to let you know once it's landed in your app.

Pension only

Annual pension statement

If you have a Dodl pension you'll get yearly summaries of how it's going in your annual pension statement. It's a useful document to help you keep tabs on your pension's progress and transactions over the previous tax year (the 12 months ending 5 April), including:

  • its current value

  • an illustration of the income you could get from your pension when you reach your chosen retirement age

  • how much you've paid into your pension

  • how much tax relief has been paid, or is due to be paid in by the government

  • how much you've transferred in from or out to another pension

  • the total account charges taken for you pension

Note πŸ“: your income at retirement value is based on a number of key assumptions, which may change, and is for illustration purposes only. It's in this document purely to help you keep your pension savings on track for what you think you'll need come retirement.

Because it's such an important document for all you pension savers to check, you'll be sent a little nudge once it's available to view each year.

General investment account only

Annual tax summary

Your annual tax summary is a guide to the dividends, interest and gains or losses your GIA investments have made overall during the previous tax year. This document is meant to help you review your tax position and complete a tax return if you’ve exceeded your annual dividend and/or capital gains tax allowances.

❗ The information given on your tax summary is provided for information only. Dodl can't advise you on whether you need to complete a tax return or how to do this. But you can find more information about calculating and reporting investment income and gains on the government's money and tax webpage. If you need tax advice after reviewing your tax summary and the government's guidance, you'll need to contact a qualified financial adviser for this.

Your tax summary will be added to your documents in the app after the end of every tax year. We'll give you a heads up once it's there so you can log in and check it over.

Your account statements are supposed to help you understand how your investments are doing and are a way to document this. But they can feel a little overwhelming at times so if you've any questions about the statements Dodl sends you, or you want to understand more about what each tells you, start a chat with one of the team today. πŸ’¬

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