UK Capital Gains Tax Calculation

Can sharesight develop a UK CGT annual report for tax submission purposes (i.e. a report which follows UK HMRC tax reporting requirements)???

Hello Sharesight community. I can see there are a few posts here and there that touch on this topic, so apologies for bringing this back up, but it would be good to hear Sharesights current position on this. Firstly, I am very new to Sharesight after joining up a couple of weeks ago. I was mainly looking for a platform to allow me to pull together all my share purchasing and dividend history to make it easier for compiling for tax reporting. Overall I am very happy with Sharesight and the performance features are very helpful, but I didn’t exactly get what i was looking for on the UK Capital Gains Tax reporting. From what I can see I would likely still need to share this with an accountant for them to figure out the CGT side. There was a mention in another post to look at using the sold security report to figure this out, but as I understand it, this will not take account of uk CGT bed and breakfasting rules. As all of the required raw data (share purchases/disposals, cost/selling price and dates) are logged in this system, I would imagine it should be quite straight forward for Sharesight to create a report format to do this for us. Is there any discussion on this from Sharesight. After all this was what i really wanted to get from this platform.

I had been using Yahoo Finance which I agree is much poorer than Sharesight, but it is free and can give a reasonable view on portfolio performance. I am happy with Sharesight at the moment, but to keep my business for years to come, I would like to see a report I can actually use directly for reporting CGT.

I would love to hear the thoughts of other UK residents who likely know a lot more about this than me.

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Couldn’t agree more…it would great to have this feature especially since there are more and more UK based investors using this platform. I was told Sharesight were currently doing a preliminary investigation to decide whether to add this feature or not. I’m really hoping they will and I’m sure it will help if more of us ask them about it!

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Thanks for the response on this one. We are on the same page with this one. I did get a comment today from one of the Sharesight team saying the currently dont provide this (which i already knew), but i would love to hear from them if they are actively pursuing this or not.

Hi @KennyW ,

Thanks for joining the Community.

I’m pleased to confirm that this is something we have very recently started working towards.

Would you be happy for us to contact you separately on this with some further questions?

Hi there, yes, of course, I am more than happy to chat to you about this. Feel free to get in touch and we can connect. best regards, kenny

@Jessinv_Sharesight

Please feel free to get in touch with me as well if you wish

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They haven’t been in touch with me yet - it’d be amazing if they could implement this feature before the self assessment tax return deadline (31st Jan 2022) but I have my doubts…

Yes I’m also posting on the IG UK community board, I’ve been told they’re working on a project to improve CGT reporting for clients which is planned to be live for the next tax year…fingers crossed

@Tcs106 & @KennyW , thanks for following up.

We’re beginning our customer calls this week, you should receive a direct message from one of the team today or tomorrow. Thanks again for taking the time to speak to us, we’re really looking forward to it.

thanks for the response, I will be happy to agree a time to chat with the team.

I am more optimistic about a solution on Sharesight than ig. Interactive Invester issue what they call a ‘consolidated tax report’, but it just lists holdings and dividends, so not helpful for calculating capital gains on any share disposals. The brokers don’t really take much interest in this, probably because their argument is that they may not have all the information (i.e. if shares have been transferred). As Sharesight, is a more holistic portfolio tool and allows holdings from various brokers and manual entries, I recon this would be the best place for this. So I am optimistic, but it is really up to sharesight on whether they want to develop this. I personally think this would be a big win for UK based investors and give them another edge over other provider. :slight_smile:

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Any developments on adding this feature in the future? @Jessinv_Sharesight

Thanks