Dear All,
Our first software release of 2024 is scheduled for Friday 2nd February 2024. Please take time to review this summary of improved functionality and share with your team.
CGT Effect (previously CGT What If)
CGT Effect Functionality is now available in the Single Withdrawal and Portfolio Switch and Rebalance actions. It shows the estimated CGT impact of the instructed action:
A revised User Guide can be found in The Knowledge Base.
Queries and comments can be raised via Freshdesk in the usual way or via your Relationship or Account Manager.
We plan to add this functionality to other instruction types such as bed and ISA in a later release.
MI Reporting improvements
- Cash Expectation Report:
- Now includes all open transfers.
- Previous duplication and incorrect value display issues have been resolved.
- All fully submitted accounts now show as status “Active”.
- A reminder that we have these two new reports:
- Transferred Holdings- No Book Costs
- Suspended Holdings- this now only shows accounts with a current holding greater than zero.
Buy lists (instrument universe)
When we add any UK Equities which are actively trading on the LSE and are priced in GBP/GBX, we will now automatically include them in all open buy lists. We have also completed a review and added to all Buy lists existing active UK Equities, reducing the need for you to raise Buy list requests these instruments.
Transactions Screen load time
We have introduced a spinning ‘loading’ notification icon.
Whilst the screen is loading, the user is prevented from amending and resubmitting a further search instruction.
In-specie Transfer Warning Message
This was not displaying in all use cases and has now been corrected.
SIPP Cash Warnings
We have introduced quarterly checks starting 1st December 2023 which will flag qualifying SIPP products where there is an excess of 25% of the value held in cash. This is an FCA requirement effective from the 1st December 2023.
Following three consecutive quarters where this excess cash position has been reported as > 25% a notification will be automatically generated to the IFA and Investor informing them of this position.
February Release
We are automating and streamlining our Trust account processes and are targeting this to be included in next month’s release. We will provide more details nearer the time along with a revised user guide.
Kind regards
Jo Jones
Managing Director
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