Tax Packs/ CTC & CGT Reports FAQs

If applicable, a tax pack will be produced for a given account. If only a Consolidated Tax Certificate (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.   

These may also be known as CTVs -Consolidated Tax Vouchers

Please note that we only provide a CTC for General Investment Accounts (GIAs).

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: except for "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. From 6^th April 2025 we are providing Excess Reportable Income (ERI) data for all offshore reporting funds on the SS&C Wealth Solutions platform.

Our Consolidated Tax Certificates for tax year 2025/2026 will contain an additional Excess Reportable Income schedule with details of income and equalisation declarable for tax purposes but not paid.  This schedule will appear for all investors, across all our partner firms, who held offshore reporting funds during the tax year and were eligible for the distributions. An example of the schedule within the tax pack is shown below.

ERI and CGT

In addition to providing the data in the client tax packs, their books and records will have been updated with book cost adjustments for both ERI equalisation and income elements. All CGT calculations will also now account for ERI book cost adjustments, as will the overall book cost value for the holding reported in the portal and on valuations.

ERI Excess Equalisation MI Report

In rare scenarios there may be negative equalisation that cannot be fully offset against income in the tax year for which it is declared.  This excess amount can be used to adjust previous tax years should the investor choose to pursue this. To support this process, we will provide an annual MI report to any adviser firms who have one or more impacted investors.  It will not be provided if there is no equalisation offset to report.

The ERI excess equalisation report will be delivered in the company report section of the portal on the 1^st May annually.  For this first year it will be provided as part of the initial processing on the 29^th May 2026. A sample of the report from test is shown below.

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

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 as it includes cash.