NEWS

Offshore Reporting Funds Update

After 20+ years of providing our market leading capital gains tax software (CGiX) to clients in the UK and Europe we have developed and launched a complementary service for Offshore Reporting Funds. The number of clients asking if we could source reporting fund data increased greatly as it has become an HMRC mandatory requirement. The data is difficult and time consuming to obtain, however, we have established a dedicated research team to perform the task on our clients behalf.

The data is available in a two formats. It can be received in spreadsheet format which enables clients to process it internally as they choose. Alternatively, it can be transferred via a download directly into the CGiX tax software, providing the benefit of STP with automatic calculation and adjustment to income and capital gains tax. Additionally, we have a large database of offshore contacts, including many hedge funds which are notoriously difficult to obtain the data for. The database is updated daily, allowing FSL direct access to companies and fund managers enabling our research team to collate accurate and timely data.

Without doubt, there is definitely increasing demand and recognition in the financial industry for this data. Our client base has increased by more than 100% in the past year and includes several leading banks based in Switzerland, with many signing for multi-year deals. Our service is competitively priced and is not restricted to solely CGiX clients.

For further information contact Preya Patel at preya.patel@financialsoftware.co.uk.

23 May 2016