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Fill in customer's information

Once you set up the CGT calculation on the system level, the next step is to make sure all customer-specific information is in place.

Note that CGT in FA Platform is calculated only for private persons: contacts with "private person" as juridical form.

Add tax information per customer

Define which CGT profile to use for calculating customer's CGT and enter other tax-related details:

  1. Go to the CGT overview in FA Operations.

  2. Select "None" in the Profile filter field to search for customer records that aren't yet linked to a CGT profile.

  3. Find the customer record, click eye.png and then edit.png . Specify:

    • CGT profile in the Profile field.

    • Yearly income (if applicable based on the CGT profile), carried forward loss, personal limit and. For field descriptions, see CGT information.

  4. Save the changes.

cgt_customer_edit.png

Note

You can import customer's tax information via GraphQL API (see API integrations ) or in a CSV file (see Contacts import).

CGT information

The customer's CGT-related information for the current tax year:

Tax country

The customer's tax country set in FA Back (Contact window, Basic info tab).

Taxation number

The customer's taxation number, for example, the National Insurance number in the UK.

Profile

The CGT configuration profile to use for CGT calculation. To learn more, see Set up CGT calculation.

Tax-free allowance

The yearly amount of profit from assets subject to CGT that is exempt from taxation. The profit above the tax-free allowance is taxed. Tax-free allowance is defined in the CGT profile. To learn more, see Set up CGT calculation.

Personal limit

The maximum yearly amount of CGT the customer is ready to pay. The payable amount in the CGT overview is highlighted if it exceeds personal limit.

Carried forward loss

Carried-forward loss from previous years to deduct from the tax year’s profit. To view values for the past tax years or set a new value, click time_series_blue.png.

Yearly income

The customer's estimated yearly gross income. Displayed if the CGT calculation is based on the yearly income. To view the values per tax year or set a new value, click time_series_blue.png.

If yearly income is left empty or set to 0, the highest tax rate is applied.

If you change the yearly income value, CGT figures for the customer are recalculated.

Set up CGT calculation for portfolios in non-CGT currency

FA Platform supports CGT calculation for portfolios and investments in multiple currencies. For example, you can calculate CGT payable in euros even if the customer’s portfolios are maintained in other currencies.

If a portfolio currency is different from the CGT currency specified in the CGT profile, set up the following portfolio structure in FA Back:

  1. Create a parent portfolio with the same currency as the CGT currency.

  2. Add the portfolios in other currencies as sub-portfolios under this parent portfolio. To do this:

    1. Open the parent portfolio and switch to the Contacts tab.

    2. Click Add subportfolio and choose the customer's portfolio from the list.

    3. Click Save.

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