Fidelity launches capital gains tax support for advisers

The new service enables advisers to view the CGT position of their clients' funds held on the platform to assist them in managing annual tax allowances and reporting capital gains and the many other aspects of CGT planning associated with buying, selling, switching and client fees.

Over eight million historic transactions will enable users to view unrealised and realised gains by tax year, and daily updates of new transactions will also be provided.

Director of tax and trust planning at Fidelity International Paul Kennedy added: "Our new CGT reports have been designed to make the tax planning of portfolios much easier for advisers."

"Although the majority of advisers understand the critical importance of CGT planning it can be an arduous task to do the calculations. Our intention is that the new service will lessen the burden allowing advisers to provide a very valuable service to their clients in a cost-efficient manner."