Tax Packs/ CTC & CGT Reports FAQs

Frequently Asked Questions:

If applicable, a tax pack will be produced for a given account. If only a CTC or CGT is applicable, independent reports will be produced.

What timing should I expect for these reports to be provided to investors?

We run the calculations and reports after half year end, and then distribute reports to investors.  The work is scheduled around other activity, so the timeframes vary each year. We provide timeframes for each year at the time, via our communications channel

Typically we aim to distribute the reports by the end of July latest.  

Consolidated Tax Certificates (CTCs):

(also known as CTVs -Consolidated Tax Voucher)

If a CTC report is not received:

We only provide a CTC for GIA accounts.

For GIA accounts we do not provide if:

1. There is no transaction to be reported.  We only send out for those that have dividends and/or interest present.
2. For joint accounts- we only send email notification the first investor.  
3. Where an investor has chosen paper rather than email notification these reports take a few days to arrive in the post

How do you relate the summary with the detail?

Each individual line in the summary section has a supporting dividend or interest section that lists the instruments that have dividend or interest payable in the tax year. 

Note: with the exception of "Deposit interest paid", which is the interest earned on cash.

If this is not aligned please raise a Freshdesk ticket and we will investigate further

What do I do with tax credits?

This will be rare but we may have had a distribution which was paid net of tax.  As a consequence a tax credit is likely to arise. This could be reclaimed by the investor dependent upon circumstance 

Can Excess Reportable Income (ERI) be reported?

Yes, we need the partner firm to provide the amount of excess income per unit and the reporting date for each non UK fund prior to the tax pack run. This information will then be incorporated in the CTC

The CTC appears to be inaccurate:

This could be due to:

1. misclassification of interest and dividends; 
2. the payment should have been gross rather then net; 
3. the payment should have been classified differently e.g. group 1 / group 2 
4. the corporate action may have been posted incorrectly.  

Please raise a Freshdesk ticket and we will investigate further

Capital Gains Tax Report (CGT):

If a CGT is not received: 

Even if there is no realised gain or loss, providing there is an unrealised gain or loss in the period the report will be produced.

If a report is missing please raise a Freshdesk ticket and we will investigate further

The CGT appears to be inaccurate:

This could be:

1. incorrect values included 
2. gain vs loss figures incorrect
3. event included that is not a CGT event e.g. a corporate action/fund conversion

Please raise a Freshdesk ticket and we will investigate further

Note: The Portfolio value (summary section) does not equal the holdings total, it includes cash