Taking the pain out of calculating Excess Reportable Income
Complete, verified and structured offshore funds data
to help you meet your clients’ regulatory requirements
Anyone with unwrapped investments containing offshore funds must report Excess Reportable Income (ERI) to HMRC.
If the ERI information is missing or recorded incorrectly, an investor can be fined up to 200% of the tax due, plus interest and potential late payment penalties. While the onus is ultimately on the end taxpayer to provide the right information on their tax return, finding this information isn’t easy. By ensuring your firm has accurate, up-to-date offshore fund information, you can help your clients avoid hefty fines and protect against reputational risks for your business.
At FSL, we do the heavy lifting of gathering hard-to-find, complex offshore funds data so you can secure a competitive advantage, reduce operational costs and meet your clients’ regulatory needs.
We provide you with a full dataset for ERI tax reporting, including fields rarely provided on a fund manager’s original documentation such as equalisation rates, the identification of Constant NAV and Tax Transparent Funds, and the determination of asset allocation.
All our data is verified, structured and traceable, with an internal validation process at each stage, meaning you have complete confidence that your reporting will be accurate.
Our regularly updated database includes historical data, meaning you have access to unparalleled coverage.
If we don’t have full coverage of your targeted dataset, our team of experts will conduct primary research to source the exact information you’re looking for.
Our tailored service means you can receive the exact data you need, spanning from the very start of the Reporting Funds regime.
Our team is there to provide support and guidance for any additional requests and queries you may have.
All our ERI data is provided in accordance with HMRC requirements, making tax reporting easier.
Bespoke, end-to-end service
Over ten years’ experience sourcing ERI data
Unparalleled coverage
Expert support and training
Original source material upon request
Excess Reportable Income- Equalisation rates for all frequencies
- Distributions, including dividend and interest breakdowns
- Identification of Transparent and Constant NAV Funds
- Reporting fund status checks
- Historical fund data
- HMRC-approved currency conversions
Excess Reportable Income
Equalisation rates for all frequencies
Distributions, including dividend and interest breakdowns
Identification of Transparent and Constant NAV Funds
Reporting fund status checks
Historical fund data
HMRC-approved currency conversionsOther services
FAQ
Anyone with unwrapped investments containing offshore reporting funds must report ERI to HMRC.
If ERI information is missing or recorded incorrectly on a tax return, an investor can be fined up to 200% of the tax due, plus interest and potential late payment penalties. You can help your clients avoid hefty fines and protect against reputational risks for your firm by ensuring you have access to accurate, up-to-date ERI information.
At FSL, we work specifically on your given dataset. This means we will reach out to fund managers directly and provide the exact data relevant to your firm.
We employ a four-eye check every step of the way. From consuming the original data to transforming it into a useable format, your data will go through stringent internal checks. We’re also totally transparent and can provide our source material upon request.
We can be as quick as 24 hours, but it will depend on the volume of data you have requested and the number of tax years you need coverage for. We are efficient without ever sacrificing accuracy.
Your data will be delivered in a standard, industry-recognised format. We will provide you with all the information you need to ensure your tax reporting is accurate.
Our service is completely tailored to your needs. This means you can take all or part of a given ERI dataset and choose specific or multiple tax years, spanning from the very start of the Reporting Funds regime.
Our team of experts will be at hand to answer any queries you might have via our personalised helpdesk service. We also offer one-to-one calls and tailored training sessions to explain our data and processes, should you need more in-depth support.
