The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.

Financial advisers Icon to toggle site branch
Open search Search

Downloading client tax packs

Annual consolidated income tax vouchers, including any Excess Reportable Income (ERI), are sent directly to clients in the post. Non-personal accounts, will also receive any Capital Gains Tax (CGT) information. Watch this video to see how you can download a copy.

Transcript

Every year, we create a tax pack for any client who has received income into their taxable 7IM account.

This gives your client the information they need to be able to include this in their tax return, including any excess reportable income.

For more information about excess reportable income, please read the FAQ document in our help centre.

The tax packs for non personal accounts, such as trusts or companies, will also contain information on any capital gains that have arisen as a result of any disposals.

For individuals, this CGT information is available separately on our platform.

Please continue watching this video to see where.

The original copies of these tax packs will be posted directly to your clients and you can download PDF copies of these from our platform.

Go to Reports, Tax, Client Tax Packs.

From here, you can select the tax year from 2019/2020 onwards and use the filters to find the relevant clients and then tick the export box to include them in the export.

If you want to download all clients, then you can increase the number of clients that appear on each page up to a maximum of 500 and then tick the Select All Visible Clients box to include them in the export.

If you have more than 500 clients, you'll need to download multiple batches reports, perhaps by advisor.

Once you have selected your clients, click the orange Export to PDF button and either save or open the downloaded zip file.

In this file will be a separate folder for each client with a tax pack inside.

The file will also contain a spreadsheet that shows the list of the clients included in the export.

You can download a tax pack as often as you like, and a copy will remain on our platform indefinitely for future reference.

As mentioned earlier, if you want to download CGT information for individuals, these reports are available by going to the Reports menu, Tax, CGT Reports and Realised Gains.

Alternatively, you can go into the client account area and click on the CGT tab.

The CGT reports are also available for clients to download themselves by logging into their account online and there is a useful guide for this in our help centre.

How to create an investment report

Watch this guide to find out how you can create your own ad-hoc personalised client investment report in minutes.

Transcript

One of the common criticisms of any quarterly client statement, is that the dates are fixed and therefore a statement doesn’t represent the period many advisers would like to analyse a client’s investments over, which is often in between review dates – something that is of course specific to each client.

We have therefore created an online ad-hoc reporting tool for you to use with your clients called, appropriately enough, a Client Review Report – or CRR for short.

The purpose of a Client Review Report is to create an easy to understand summary of your client’s investments that answers the questions that most people want to know; What have I got? How has it done? What does it cost?

To create a CRR, you can either go to your client list and click on the chart icon on the right hand side or you can click on the CRR button within the client account area.

There are two types of report – Simple and Sophisticated. A simple report has a current value, asset allocation, and a summary of money in and out. A sophisticated report includes all of that plus has performance analysis. To create a sophisticated report, the account will need at least 3 months worth of history on the platform in order to analyse.

Once you have chosen your report type, you can select the date range of the report as well as the review date.

You can also select the tax wrappers and portfolios that you wish to include in the report. Although including all of them will be the most popular action, it could be useful to create separate reports for certain accounts if you want to analyse them individually, for example if there are different time horizons involved and hence you want to use different benchmarks or if you want to look at the performance of one particular investment strategy or DFM held in one sub account.

The next section allows you to choose which benchmarks or indices, you want to include in the performance analysis. You can add up to 3 from a long list of benchmarks, including various measures of inflation, stockmarkets, sector averages, and portfolio indices.

Each benchmark can be customised to add a certain percentage on top, for example RPI + 1%. Alternatively, you could choose a personal benchmark which is a set percentage rate. This could be useful if you are targeting a certain rate of return, as some cashflow tools do.

Having selected your benchmarks, you can now choose various other options for your report.

  • Detailed Performance Numbers includes a table of numbers that makes up the performance graphs
  • Portfolio Valuations will include a valuation page, with holdings, for each of the client’s accounts
  • 7IM Look-throughs will include a breakdown of the underlying holdings for any 7IM multi asset fund that the client holds
  • Exclude Since Inception Summary will exclude the additional column detailing the money in and money out figures since the client was first on the platform
  • Performance net of fees will include all adviser and 7IM charges in the portfolio performance analysis. This matches the calculations methodology in our quarterly client statements. Just remember however, that the benchmarks do not have fees included.
  • Costs & Charges Summary will include a page showing the MIFID ex post costs & charges for the report period. These are also shown in our quarterly client statements.

Having chosen your options, you now need to include a Cover Title and a Cover Subtitle for the report, both of which will appear on the front page.

Finally, you can add any notes which will appear as bullet points on page 2 of the report. This could be used as an agenda for your client meeting, for example, or points you want to discuss about the client’s investments. It’s a free text field so you can write whatever you like.

You’re now ready to generate your Client Review Report.

In the CRR download page, you may have to click the refresh button if the report isn’t showing as complete.

The bar chart icon will show you an asset class breakdown of each fund currently held by the client.

Clicking on the PDF icon will open the Client Review Report.

You can see the title and subtitle that you entered and any notes on page 2.

Page 3 has the money in and money out summaries and the current values of each account. The categories on this page now match those shown on the quarterly client statements.

Page 4 has an asset allocation pie chart reflecting an aggregate view of the assets held by the accounts in this report.

Page 5 shows the various performance & risk charts including the benchmarks that you have selected. The performance is calculated on a time weighted return basis which removes the distorting effects on performance of adding or withdrawing money during the period.

Page 6 is the optional performance numbers table that make up the graphs

Page 7 onwards has the optional valuation pages for each account

And finally, at the end is the optional MIFID costs & charges summary for the report period.

We hope you find these reports useful.

Remember that much of this information is displayed in the My Money tool of our 7imagine app for both yourselves and your clients, so you could also use that for a client review meeting or encourage your clients to view this for themselves. For more information about our app, read the adviser guide in our Help Centre or download the app, go in as a guest, and have a play.

Financial Intermediary

I confirm that I am a Financial Adviser, Solicitor or Accountant and authorised to conduct investment business.

If you do not meet this criteria then you must leave the website or select an appropriate audience.

Search
Contact us
Close