SharePad

[bobsmydog]

Does anyone use this?
If so do you know if it calculates capital gains after taking into account pooling with sales and repurchase within 30 days?
ShareScope does, (I have found a demo and it works) but SharePad is loads cheaper.

[StOmer]

Yes it does.

I sold some Hansa Trust, under CGT 'show calculation' Sharepad reported CGT as "matched against a purchase in the following 30 days 'Bed and Breakfasting rule' with a price of xxx giving a gain of xxx

[bobsmydog]

Thanks, yes it does!

I have now signed up for this and so for anyone else interested in using this for portfolio management and tax calculations I would conclude it is ok for portfolio management but using it for tax calcs is a bit hit and miss.

Capital gains:
It calculates using HMRC rules on 30 day rule and pool
However, it allocates return of capital through equalisation to 100% capital gain in the year the event occurred rather than reducing the cost of acquisition of the pool. Not too disastrous as relatively small sums involved, just not the right way to do it as far as I can figure out.

Dividends and other income distributions:
There is no way to to add interest distributions: the only options are dividends, scrip dividends or PIDs, which makes the dividend calculations useless if all income transactions are added into the portfolio. Or another option would be to leave out interest income but that then makes the total return on investment useless

[StOmer]

Hi,
Just trying to understand your bit about income distributions. You can add interest as a cash transaction easy enough plus add return of capital on a per stock basis. If adding interest from the brokerage I use the add cash tab and select 'Credit' then add a note to self in the form.

[bobsmydog]

Just found I can add cash to a holding! Still playing around with this will go and investigate further

[bobsmydog]

Ok, I've just tried removing the interest 'dividends' from a holding and adding them back in as cash credits but this isn't now reflected in the value of the holding. This holding is now showing a loss instead of a gain and is incorrect.

As some of my holdings provide significant interest distributions I need these to be taken into account for 'value' on any given date.

My only option as I see it is to keep entering interest distributions as 'dividends', ignore the dividend/PID tax report and calculate the dividends/interest myself.

As for capital return, when I enter this it appears in the CGT report as a 100% gain in the year the equalisation occurred. However, I beleive that it should actually be deducted from Cost of Aquisition so that the gain is only realised when the fund is actually sold. This means I will suffer a potential CGT liability immediately and not when I sell. Hey ho.