CGiX Archives

Why Choose CGiX for Multi-Account Reporting

Wealth managers need an easier way to report on multi and joint accounts. Learn how CGiX can help you do just that. Increasing numbers of middle earners paying tax There are many complexities when it comes to creating accurate client tax reports. And the reporting burden will only get heavier as regulations continue to evolve. […]

CGiX Update: New Excluded Indexed Securities Functionality

We noted on our website in early April that in an update to agents HMRC had quietly buried an announcement that the tax return for 2022-23 would contain new boxes for reporting gains on disposals of Excluded Indexed Securities. FSL promised to respond to this new regulatory requirement and provide our clients with new functionality […]

Tax Reporting to Optimise Efficient Outcomes Considering Reduced CGT Exemption

The 2023 Spring Budget included capital gains tax (CGT) allowance changes that will likely affect tax reporting and planning for many wealth managers. We had expected some potential relief to offset the halving of annual CGT allowance from April (from £12,300 to £6,000) but this didn’t happen. As it stands, an estimated quarter of a […]

Why Capital Gains Historical Data is Critical for Accurate Calculations & Reporting

Capital gains reporting is a crucial part of any investment process, yet capital gains calculation itself can be challenging. However, the process can be simplified with the use of historical data. Historical data on investments can span decades from the inception of a holding through name changes, stock splits, mergers, de-mergers and all the various […]

Excluded Indexed Securities Now Included in Self Assessment Tax Returns

On 22 March HMRC published Agent Update 106, for agents such as accountants who act on behalf of taxpayers. Agent Update 106 states that SA108 – the individual Self Assessment return form for capital gains – will be amended to include gains arising on the disposal of excluded indexed securities. This update was announced under […]

CGiX Capital Gains Tax Calculation Tool: Benefits for Wealth Managers and Private Banking Sectors

Unlock the potential of FSL’s market-leading CGT software The complexities of capital gains tax can be a real challenge for the wealth management and private banking sectors. Yet, accurate CGT calculation is crucial to advise clients on the most efficient investment outcomes. CGiX has everything you need to transform the process and provide an efficient […]

Even Institutional Investors Find the CGT Regime A Challenge

The FT published a timely piece by Cliff Weight of ShareSoc earlier this year, campaigning on behalf of individual investors. His piece raised the difficulties that individual investors face when they sell shares and are required to calculate the capital gains tax (CGT) due, from the rebasing rules of 1982, to the cost apportionment rules […]

Tax Simplification: Financial Solutions for Wealth Management Services

When wealth management companies simplify tax reporting with the right financial solutions, there are many benefits for their business. One of the most significant is providing a better service for their clients. Customer demands are increasing, and changing legislation makes it hard to keep on top of liability calculation and tracking. Gathering, analysing, and reconciling […]

Software as a Service Support Benefits for the CGiX Capital Gains Platform

Software as a Service (SaaS): Overview Use of Software as a Service (SaaS) is growing significantly due to its numerous benefits. The World Economic Forum (WEF) stated in a report that SaaS has seen increased usage in the banking and financial services sector. This is due to its cost-effectiveness, hyper-efficiency, scalability, and inclusivity. Automation and […]

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