Monthly Web Release - 26/05/2023

Dear Client,

We are pleased to advise you of our latest software release, which was implemented on 26th May 2023. The release includes the following:

New Features:

The Capital Gains Tax Function in the “All Account Actions” (double cog icon) dropdown - for GIA wrappers only- has been replaced with a new “CGT & CTC Documents” screen.  

This screen allows for the download of a Capital Gains Tax Document, Tax Pack, &/or CTC Tax Document, with or without a cover letter in PDF format and Capital Gains Tax Holdings, Capital Gains Tax Transactions and a CTC Tax Document in CSV format.

This is the first of a series of related tax deliverables that will cover in the end June period:

1. CGT what if for withdrawals;
2. CGT enhanced reporting to cover the adoption of HMRC compliant matching rules for companies and the correction for the handling of inspecie transfer out and GIA account movements     

Please be aware that a document error may arise if a CTC report has been requested where no dividend or interest transactions are present.   This will be corrected in the June release.   

Improved Features and Enhancements:

1. The Manage Phased Investment screen is now immediately accessible upon creating a phased investment on an account rather than requiring the monies to hit the account first.  A separate guide will be provided at the end of May to cover managed phasing and operational considerations. 
2. The input field in the Perform Raise screen now has standard financial formatting applied.
3. The wording for banded/ribbon charges on the “Account Details” screen, and the application and illustration documents has been updated to be clearer and allows for a custom statement to be added to show an example if required.
4. Decumulation illustrations now show a Model Name, Total OCF and Total transaction charge values.

Kind regards

Douglas Boyce 

Managing Director