More than two-thirds of UK investment platforms are failing to provide advisers with adequate capital gains tax (CGT) planning tools, despite growing demand for support and rising pressure from tax rule changes, research from Financial Software Ltd (FSL) has found.
The tax reporting technology firm warned that a lack of holistic CGT support is leaving advisers without crucial visibility over clients' full financial picture, especially for those with assets held across multiple wrappers and providers. According to the survey of 130 financial advisers, only a minority of platforms offer tools that allow advisers to account for off-platform assets within their CGT calculations and planning. This is despite 27% of advisers highlighting such capability as an important feature – the same proportion who deemed CGT scenario planning tools to be essentia...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
