Tax planning made easier with Cofunds’ latest tool

Cofunds, the leading independent platform for financial planning, unveils its latest tool for advisers, the Wrapper Selector Tool.
The tool, built in partnership with leading tax consultancy Technical Connection, has been designed to provide advisers with an indicative wrapper comparison, based on clearly stated assumptions within the tool and case related details entered by the adviser.  This will cover off the different outcomes after tax from using each of the main retail portfolio wrapper types available on the platform; namely UK bond, offshore bond, UK fund and offshore reporting fund.
The tool allows the adviser to model an equity fund, a cash/deposit/fixed interest fund, or a mixed fund, based on a pure percentage split.  It also enables the adviser to enter the expected/forecast rates of dividend, interest and growth as appropriate, and can cater for all variations of current and future personal tax status to be modelled.
The tool then uses this information to provide the comparative tax efficiency of the portfolio wrapper types.  This will deliver especially valuable guidance in the light of the recent changes to capital gains tax.
Alastair Conway, Sales & Marketing Director at Cofunds said: “The launch of this new tool enables advisers to navigate the tax landscape more easily, highlighting the tax differences between each wrapper.  Advisers can use it as part of the process of determining the most appropriate wrapper for their client’s requirements.  It will help them to weigh up the tax related merits of each wrapper in the specific context of their client’s circumstances.
“We believe that this tool is further evidence of our commitment to providing guidance and platform support to advisers to help them deliver an improved service to their clients.”