CCH CGT and Dividend Scheduling 2022.2: Release Notes

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Release Highlights

This release of CGT & Dividend Scheduling specifically deals with the matching rules for relevant securities.

Prerequisites

Installing CCH CGT & Dividend Scheduling 2022.2

This release is installed using the Central Suite Installer. This ensures that all prerequisites are in place and that all the products for which you are licenced are installed in the correct sequence. Click here to learn about the Central Suite Installer (Prerequisites, Update Instructions etc).

Software Enhancements

Securities making interest payment in addition to dividend payments

It has been brought to our attention that some securities e.g., 3i Infrastructure a Jersey registered FTSE350 company has been making dividend and interest payments. The payments were being reported in CGT & Dividend scheduling as dividend payments.

For 2021/22 and future years, it is now possible for the program to show both interest and dividends on a foreign stock. This can be seen on 3i Infrastructure.

Quality Improvements

ITS 64022 - Pooling of securities where the gains are liable to Income Tax

For relevant securities (those where the gains are liable to IT and also securities subject to AIS) S106A was incorrectly applied in priority to S105. This has been amended for 2021/22 onwards. After the change, part disposals of holdings that were acquired at different times are matched with acquisitions in the following order:

Same Day
Acquisitions within the 30 day period following the disposal.
Other earlier acquisitions made at any time on a last in first out (LIFO) basis.

Where a taxpayer has the following purchase pattern on a stock:

Purchase/Acquisition		Sale/Disposal
Number	Date	Number	Date
12,000 14,000 7,500 1,500 6,000	6 April 2021 30 April 2021 10 June 2021 17 June 2021 30 June 2021	9,500	10 June 2021

The matching of the sale of shares/units is as follows:

Purchase/Acquisition			Sale/Disposal
Number	Matched	Date	Number	Date
12,000 14,000 7,500 1,500 6,000	(7,500) (1,500) (500)	6 April 2021 30 April 2021 10 June 2021 ^1 17 June 2021 ^2 30 June 2021 ^*3	9,500	10 June 2021

If the sale had been for 16,000 shares/units on 10 June 2021, the matching is

Purchase/Acquisition			Sale/Disposal
Number	Matched	Date	Number	Date
12,000 14,000 7,500 1,500 6,000	(1,000) (7,500) (1,500) (6,000)	6 April 2021 30 April 2021 ^4 10 June 2021 ^1 17 June 2021 ^2 30 June 2021 ^3	16,000	10 June 2021

The sets of matching rules applied to disposals of stocks of other security types are unchanged.

The change is not being applied to transactions in corporate portfolios.

Legal Notice

Disclaimer : Wolters Kluwer (UK) Limited has made every effort to ensure the accuracy and completeness of these Release Notes. However, Wolters Kluwer (UK) Limited, its staff and agents will not be liable for any errors or omissions and use of the software is subject to the customer’s licence with Wolters Kluwer (UK) Limited. These Release Notes should not be relied upon as a detailed specification of the system or the software. Wolters Kluwer (UK) Limited may make changes to these Release Notes from time to time. This is provided for informational purposes only. The information reflected in this document may be changed or updated without notice. Wolters Kluwer (UK) Limited may also make improvements and/or changes in its products, practices, and/or programs described in this document at any time without notice. This document should not be seen as a contractual agreement, a modification or amendment of any existing contractual agreement with Wolters Kluwer (UK) Limited, or an indication of terms of service. All technical data, specification and other information contained in this document is confidential and the proprietary intellectual property of Wolters Kluwer (UK) Limited and/or its licensors. No reproduction, copy, alteration, or distribution thereof may be made without the express written consent of Wolters Kluwer (UK) Limited.

Copyright: These Release Notes may not be copied, altered, edited, disposed of, or distributed without the prior consent of Wolters Kluwer (UK) Limited. The content is confidential. Unless indicated otherwise all elements of this software product are owned by Wolters Kluwer (UK) Ltd. © 2023 Wolters Kluwer (UK) Limited

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