CGT assessment on Hargreaves Lansdown funds

MFC52

dunstonh said:

You dont have to declare any figures unless it is within the defined requirements.   You don't need calculations.  Just the outcome.  But you do need to keep a record so they can verify the information is correct if asked.

Thanks BUT I still need an accountant

MFC52

ColdIron said:

With so many trades I wonder if you have a clerical problem rather than a CGT one. Wading through so many contract notes would be gruelling work for an office junior let alone a qualified accountant. Maybe they just don't want the work

Thanks BUT from my investigations none of the 15 accountants (of ALL sizes) knew anything of cvalculating CGT

MFC52

dunstonh said:

HL don’t offer any assistance.

They do if you employ them under their advice service.    If you choose not to employ them then it is no wonder they won't offer assistance.

It seems very laborious and hence expensive.

It isn't really as you just use the data provided and input it into software.   

Can anyone recommend an accountant able to calculate CGT ?

Any accountant can do it.

Following your post. I would correct you and advise you that HL do not have an ADVICE SERVICE for CGT.

See post from HL belowI'm afraid we do not provide any capital gain/loss statements for calculating Capital Gains Tax (CGT). CGT calculations require a full picture of your personal situation, which can vary from person to person. As we’re not tax specialists, this is not a service we offer, however you can speak to a tax adviser or HMRC for further assistance. I’ve also provided some additional information and resources below, which I hope you find useful.

MFC52

GeoffTF said:

dunstonh said:

You dont have to declare any figures unless it is within the defined requirements.   You don't need calculations.  Just the outcome.  But you do need to keep a record so they can verify the information is correct if asked.

It has always been my understanding that I need to report the calculations. I do it every year. There is a place on the online self assessment to upload a pdf. The worksheets are useless for anything complicated. I uploaded 13 pages of CGT calculations with my last tax return, having sold shareholdings that I had held for decades.

Do mine then ? 

MFC52

How difficult is this just to request the lead of an accountant that has undertaken this work ?
I appreciate opinions about doing it myself BUT I want an accountant whom I am happy to pay.

csgohan4

put yourself in the service providers shoes, to go through minimum 800 contract notes and not including resales and hmrc rules. It would be an administrative nightmare, I am not surprised alot of firms say no, or you may get one that will do it but for a very expensive price, probably over 1k to do it

Good luck OP, but a good lesson for good book keeping as a start

wmb194

MFC52 said:

wmb194 said:

I keep track of everything in MS Money and then export the data to Excel when necessary. MS Money will do the basic calculations for you and is fine if your affairs are straightforward but it isn't geared to UK legislation so will miss the nuances of pooling across multiple accounts, the 30 day rule, partial sales and so on.

Thanks BUT I am looking for an accountant.

How have you been keeping track of your trades? If you can offer up the data in a digestible form e.g., in an Excel spreadsheet with the standard data HMRC requires you might find it is easier to find an accountant willing to do it. The problem is that if you have positions that span tax years you'll also need to provide data for prior years.

MFC52

wmb194 said:

MFC52 said:

wmb194 said:

I keep track of everything in MS Money and then export the data to Excel when necessary. MS Money will do the basic calculations for you and is fine if your affairs are straightforward but it isn't geared to UK legislation so will miss the nuances of pooling across multiple accounts, the 30 day rule, partial sales and so on.

Thanks BUT I am looking for an accountant.

How have you been keeping track of your trades? If you can offer up the data in a digestible form e.g., in an Excel spreadsheet with the standard data HMRC requires you might find it is easier to find an accountant willing to do it. The problem is that if you have positions that span tax years you'll also need to provide data for prior years.

Thanks BUT I am looking for a NEW accountant who can do that (my current accountant can convert to Excel).
Previous tax years are not an issue.
Thanks everyone for your advice BUT I am not looking to do this myself.

MFC52

csgohan4 said:

put yourself in the service providers shoes, to go through minimum 800 contract notes and not including resales and hmrc rules. It would be an administrative nightmare, I am not surprised alot of firms say no, or you may get one that will do it but for a very expensive price, probably over 1k to do it

Good luck OP, but a good lesson for good book keeping as a start

Thanks BUT all recirds are available and my existing accountant has worked perfectly.
I am simply requesting help for a new accountant.
I am charged well over £1K and would be happy to pay that again. It's well worth the money.

MFC52

Please folks all I was asking for was an accountant with the skills and experience to do ALL the work.

Whilst I am grateful for how I could do it myself etc.. that was not my orifginal request.