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Tax Planning Reports

Last modified 09:45, 10 Sep 2013

Overview

Tax Planning Reports are accessed via Tools > CGT and Dividend Scheduling > Tax Planning Reports and are designed to provide opportunities for generating new fee income via proactive tax planning.

Tax Planning Report Options

All of these reports utilise the results database and as such it is important to be aware that if you are performing a search on a given Fiscal Year the reports will, of course, only cover those cases that have already been processed for the year in question.

The Client List will identify which Clients have been processed for a given Fiscal Year and will also detail whether they are at Proof or Final stage.

Portfolios with Gains under a Specific Value: This report has been designed chiefly to identify those Clients who have not yet used their CGT exemption allowance for the current Tax Year.

When you first select the report you will be asked to choose the Fiscal Year you want to report on and also the specific value to use in the search.

If you select the down arrow in the Limit box the system will provide a list of the CGT exemption limits going back to 1998/99 – simply click the required year.

Alternatively you can enter any value as required.

Portfolios with Gains over a Specific Value: This report can be used to identify Clients that have gains above a specified value.

For example it could be used to identify Clients who have already utilised their CGT exemption limit for an unfinished tax year where there may be opportunities to realise a loss on a poorly performing investment thus reducing, or removing, the CGT liability.

Alternatively you may be interested in identifying those Clients with a high level of disposable income.

When you first select the report you will be asked to choose the Fiscal Year you want to report on and also the specific value to use in the search.

Portfolios with Disposal Proceeds under a Specific Value: This report can be used to identify Clients that have disposal proceeds less than a specified value.

When you first select the report you will be asked to choose the Fiscal Year you want to report on and also the specific value to use in the search.

Portfolios with Disposal Proceeds over a Specific Value: This report can be used to identify portfolios that have disposal proceeds over a specified value.

For example it could be used to identify those Clients who may have sufficient cash available to be interested in taking advantage of a new tax efficient investment opportunity.

When you first select the report you will be asked to choose the Fiscal Year you want to report on and also the specific value to use in the search.

Portfolios containing a Specified Security (at end of period): This report allows you to identify portfolios that held a specified Security at close of business on the last day of a specified Tax Year.

As this report only scans the Balances Carried Forward (Closing positions) table within the database it will run a lot faster than the more comprehensive search described below.

Portfolios containing a Specified Security (within a period): This report allows you to identify portfolios that contain a specified Security on any day within the specified year regardless of whether it was still held at the end of the Tax Year.

For example this report might prove to be useful in situations where a common Security is subject to a take-over where alternative terms are on offer.

The decision as to which option to take may well have a CGT consequence e.g. acceptance of a cash offer may well bring with it an immediate charge to CGT whilst the acceptance of an alternative "all share" offer would provide the opportunity of deferring the disposal to a more favourable tax year.

This report will scan the following tables within the database for the presence of the specified Security:

  • Balances Brought Forward (Opening positions)
  • Purchases
  • Sales
  • Sundry transactions (Transfers etc.)
  • Balances Carried Forward (Closing positions)

 

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