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New Portfolio and Period

Last modified 16:54, 9 Jan 2015

Overview

Use the New Portfolio and Period window to create new portfolios and new portfolio periods. Use the Consolidations button to consolidate multiple portfolios for CGT.

New Portfolio

A portfolio represents a fund. A client may have one or more portfolios.

Portfolio Reference

This field must be unique for the client. It is up to 16 characters.

Report Heading

This field is the name of the portfolio and appears on reports.

Broker's a/c number

This field is optional, but if specified must be unique across the database. It can be used by the Transactions Import to identify the client and portfolio when transactions are imported from a broker.

Lloyds Underwriter

Tick if the portfolio is for a Lloyds underwriter. This has two effects:

  • If the portfolio period is a whole tax year then the Dividends Schedule is split into two reports. The first runs from 6th April to 31st December and the second covers the rest of the tax year.
  • There is no data transferred to CCH Personal Tax from the portfolio. The data needs to be entered manually on Personal Tax's Lloyds screens. 

Exempt

Tick if CGT does not apply to this portfolio.

 

New Portfolio Period

The earliest start date that can be used is April 6th 1986. Portfolio periods do not have to be a standard tax year and can be for any period of up to one year.

For Fiscal Years prior to 2008 select the check box if the Section 35 election is in force.

Portfolios can be consolidated for CGT purposes.

 

Consolidations

If a client has multiple portfolios they should usually be consolidated for CGT purposes. This means that for CGT purposes, when the same security is held in multiple portfolios, it is treated as a single holding.

Create button

Create a new portfolio that is used to hold the consolidated portfolio. Transactions should not be directly entered to the consolidated portfolio. They are generated automatically from transactions in the sub-portfolios.

Consolidated Portfolios

Tick the portfolios that are to be consolidated.

 

Related

Consolidations
Portfolios can be consolidated for capital gains tax purposes. Use this screen to create a master portfolio that other portfolios can be consolidated into.
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