Timetotrade’s Capital Gains Tax calculator helps investors calculate their Capital Gains on Shares, Unit Trusts and OEIC transactions, in advance of January 31st 2010 Tax Return Deadline.
Timetotrade’s Capital Gains Tax Calculator helps UK investors work through Capital Gains Tax calculations on Shares, Unit Trusts, and OEIC transactions. Traditionally such tools were only available to professionals but can now be accessed by private investors and investment clubs at from any web based browser www.timetotrade.eu
Calculating Gains can be a minefield, but fortunately help is at hand. With timetotrade’s Capital Gains Tax Calculator investors simply input all historical shares of funds transactions and timetotrade works out the rest. Including complex calculations for: Section 104 Holdings, equalisation payments, notional distributions, share reorganisations (such as mergers, rights issues and takeovers) and share identification rules. The tool can also be used to calculate indexation allowance and taper relief that were applicable prior to the changes to CGT legislation in April 2008.
Investors can then print off or save their fully completed Capital Gains Tax return form SA108 (or Form 185(new) for investment clubs) ready to submit, along with the supporting calculations now required by the HMRC.
timetotrade provides investors with a collective view of their tax position, and enables investment disposal scenarios to be modelled in order to maximise tax breaks and work within yearly tax allowances.
Dary McGovern, Managing Director of Sensatus, the developers behind timetotrade, commented "We have worked closely with private investors during the development of timetotrade. In doing so, it quickly became apparent that a solution was needed that would help investors quickly determine their tax liabilities. Using timetotrade, investors can now do this."
Investors looking to submit an online Capital Gains Tax return to HMRC must do so by 31st January 2010 , if any of the following circumstances were met during the tax year ending 5th April 20098:
- If overall gains exceed the Annual Exempt Amount (£9,600 Yr 2008-2009);
- If total Gains, before deducting losses were higher than the Annual Exempt Amount (£9,600 Yr 2008-2009);
- If you disposed of more than £38,4000 of assets (2008-2009);
- If you made an overall Capital Loss for the year and wish to make a claim so that it can be carried forward to offset against future gains.
The Capital Gains Tax Calculator can be found at www.timetotrade.eu
It is free to register for a “Basic” timetotrade account. The advanced tax features can be accessed through timetotrade’s “Pro Package”, which is priced at £19.99 per month or £199 per year (+ vat where applicable).
timetotrade is a financial technology company who develop online trading tools for private stock market investors, forex traders and investment clubs.
- realtime stock and forex quotes
- price, trendline and technical indicator alerts
- portfolio management (shares, funds, forex, spread betting)
- performance reporting
- profit / loss calculator
- capital gains tax calculator
- financial news aggregation
Timetotrade is the UK’s leading on-line investment club management system: enabling clubs to easily manage member subscriptions, unit valuation and generate detailed reports on investment transactions and performance.
All the timetotrade tools can be accessed online at any time and from any web enabled mobile device.
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Founded in June 2006, Sensatus UK Ltd is one of a new wave of software companies to set up offices in Brighton, UK. Sensatus specialise in the development of innovative web-based financial technology for financial institutions and retail investors.