According to Nucleus, the new tool, which is being launched following an extensive period of testing by a group of users, features a range of enhancements on the previous version and is designed to deliver a host of features to aid advisers in calculating their clients' capital reporting requirements.
Advisers will now be able to access all clients’ general accounts in a single view, which can be easily accessed from the wrap summary or account detail screens. Additional clients can also be added to enable reporting across spouses or other connected clients.
Other additions include the automatic carry over of acquisition costs for inter account transfers, the ability to rebase costs for deceased clients or in the event of a UK tax status change, and a range of report output options, including a full history of each account’s capital gains tax related transactions and distributions.
Andrew Smith, Chief Technology Officer at Nucleus, said: “We are always looking for ways to help advisers and their clients to invest and manage money. Technology is at the heart of our business and as a result we are constantly looking for ways in which we can upgrade the platform and its user experience. Having spoken to our audience, we recognised the importance of capital gains tax planning to advisers and have taken this step to help improve their processes.
We have been able to implement these improvements thanks to our recent investments in technology and by having a really engaged user base. The initial testing phase has been well received from a selected group of Nucleus users, but we are keen to keep collecting feedback from anyone using the tool so we can always look to improve the platform and make advisers’ lives easier.”
