Reports, Life, Investment Transactions

Use this report to...

· Check a client’s Capital Gains Tax liability by listing all investment purchases and sales

· List the investment work done on behalf of a client to prove you have Treated that Client Fairly (TCF)

· List all the investment transaction work (of different types) you have done in a given period

To access the report, starting from the Durell Main Menu...

· Click the “Reports” button

· Click the “Life” tab

· Click “Investment transaction trail”

· Click “Proceed”

The Report Selection

In the Investment Transaction selection pop-up, below, you can choose to print a report for

· all clients

· just those with their mailshot selection marker set to “Y” (see Mail Shot, Bulk Selection Of Clients )

· a single client, selected via the “>” button

You may include or exclude policies by their stage (e.g. just include “Active” and “Active joint” ones). The dropdown to the right of the word “Exclude” allows you to select all stages of a given type (e.g. all active stages, which in one go would include “Active” and “Active joint” while excluding everything else – see Set-up, Policy Stages ). If you use this dropdown then you must click the “Select” button to activate it.

Then choose whether to use the client’s search name (e.g. PUDD P) or first line of address (Mrs P Pudd) in the title, and whether to include a Word template as a header for the overall report – in which case you’ll need to use the “…” button to select a template from your Durell “TEMPLATE” folder (e.g. “Valuation Front Page” – see “Documents, Templates, New”)

Tick the boxes of the investment types to include (e.g. Endowments).

Optionally tick the box to include the text contained in the “Details” field on the first screen of each contract.

Choose which investment transaction types to include or exclude. For example, if you are producing a report for Capital Gains Tax you’d want the four transaction types shown above, for purchases and sales.

Finally choose a date range for this report. If you leave it blank you’ll get all of the transactions, regardless of their date.

Click “Print” to print the whole report, including the Word header page, or “Preview” to see it on screen first, with the option to subsequently print without the header document.

Saving Your Selections

Once you’ve made a selection of policy stages and transaction types, for example suitable for Capital Gains Tax, you can save this via the “Save” button, and subsequently re-select it via the “Load” one, as shown below, which is useful in maintaining consistency, particularly when dealing with less experienced admin staff...

Capital Gains Tax

The example screen below shows a typical investment, started in April 2005 and sold four years later in July 2009. During its lifetime some of its value was switched into a different fund, but in the end the original £10,000 investment was all sold for £10,750.64 making a £750.64 gain, as is also clearly shown in the example report, above. Note that the screen below is the standard contract “Funds” screen, but with the viewing selection (middle right) set to “Show transactions”.

Some considerations regarding the use of this report for Capital Gains Tax are...

· The date range should be left blank so all policies and contracts are included

· The report selector should just contain the investment transaction types...

o Purchase, initial

o Purchase, top-up

o Sale, partial

o Sale

· This assumes that all dividends and other withdrawals will have already been taxed separately

· Once CGT has been paid on a contract it could have its policy stage reset, for example to “Sold and CGT Paid”

· The policy stage selector should contain all stages, except any you might create like the suggested “Sold and CGT Paid”

· Even where money is switched between contracts the CGT should eventually balance after all the policies have been sold