The Offshore Reporting Funds service is a partnership between Exchange Data International (EDI) and Financial Software Limited (FSL).
The Offshore Reporting Funds service provides you with the required offshore fund tax reporting elements that are:
- easy to use;
- provided in adaptable formats;
- provided through a validating process ensuring accurate data.
What is the need?
HMRC are clamping down on offshore funds tax avoidance as it is a legal requirement to report all offshore transactions. Using the Offshore Reporting Funds service will transform the time-consuming, labour-intensive task of identifying funds and determining tax liabilities into a simpler, streamlined process. It will be a valued addition for your clients and reduce any risk of non-compliance.
Fund Coverage Offering:
- The largest proprietary database of Fund Manager details (including niche Hedge Funds).
- Identification of constant NAV funds to provide assurance that there is no missing data.
- Extended reports with Transparent Funds to enhance your client offering.
- To ensure your clients receive accurate data our skilled team monitor Reporting Fund statuses with Fund Managers
- Ongoing reporting of historic fund data.
The service has overcome potential issues when gathering data from various sources and offers HMRC approved currency conversion capability to save you the time and burden. Our service reduces the burdens of this process:
The dedicated Data Analysis team are available to offer support for your data queries and to give you the confidence that you need in your Offshore Reporting Funds tax treatment.