CGT calculator

Hi all,

Does anyone know of any calculators or proprietary software that will do a full on CGT Calc for funds and shares?  I am talking large data sets, multiple buy and sell points, taking into account accumulated divs that kind of thing, not simply bought, held, sold...

We have had several cases recently for off platform funds (new clients with existing monies) and it is a major headache to calculate manually with cobbled together spreadsheets. 

Stockbrokers must use something...

Any ideas?  Thanks!
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  • I did quite a bit of research into this area a couple of years ago for a firm that needed to do similarly complex calculations i.e. accurately take into account Section 104 holdings, notional distributions on Acc units, equalisation, share class switches etc.

    Long story short, your choices come down to:

    1. Forking out for institutional grade software e.g. CGiX*
    2. Use a third party that has a CGiX license to do the CGT calculations for you - Karrie Tilburn at http://www.kawatsonconsultancy.co.uk/tax/ is very good
    3. Pay an accountant to do the calculations for you
    4. Do the calculations yourself

    We looked into 1 but the license cost was something like £10k per year! We spoke to a number of accountants, but they generally understood less than us about treatment of notional distributions etc or would have charged us silly money to do the calculations manually on an hourly rate. I also looked into getting our own accountancy software but I seem to recall that the software wasn't quite up to scratch like CGiX. In the end we opted for a combination of 2 and 4 as when you balance out the costs of, say, paying an accountant versus the tax saving by doing the CGT calculations 'correctly' you have to be talking about pretty big portfolios that have been held for a number of years to make it worthwhile.

    I ended up creating a spreadsheet that could cope with most scenarios a typical UT/OEIC portfolio would need e.g. Section 104 calculations, notional distributions, equalisation etc. I never did crack the taper relief/indexation side of it though! Happy to email you the spreadsheet if you DM me your email address.

    * The market leader in this area seemed to be CGiX http://www.financialsoftware.co.uk/products/cgix/ - they provide the backend for a lot of the platform CGT tools e.g. Old Mutual Wealth and I think maybe FundsNetwork too now.

    Jonny
    Jonny (paraflex)
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  • Wow, thanks that is really helpful. It sounds like you spent a bit of time trying researching.  Certainly not worth paying £10k pa....
  • Thank you for your kind comments about KA Watson Consultancy Limited and our Managing Director Karrie Tilburn. Should anyone wish to discuss our services and how we can assist with Capital Gains Tax calculations please contact Becky on 01423 56844 or by e-mail info@kawatsonconsultancy.co.uk.
  • www.tfpcalculators.co.uk/
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