The vast majority of advisers (94.1%) want platforms to include capital gains tax reports as part of their tax packs, according to Financial Software Ltd.
The findings follow research from the lang cat which shows that tax planning is climbing advisers’ agendas, with 39% of advice firms now citing it as a priority. The same proportion of advisers also reported a sharp rise in clients seeking reassurance around tax and legislative uncertainty.
FSL said its own data shows that CGT calculators are the fourth most-selected ‘must-have’ feature in advisers’ platform due diligence, just behind the SIPP and whole-of-market fund range features.
Despite this, around one in six advisers say they are not confident that the platforms they use accurately reflect their client’s CGT positions; an issue that is likely to grow given CGT receipts hit record levels in 2025/26.
Michael Edwards, managing director of FSL, said: “With more individuals drawn into scope for CGT, tax planning has moved centre stage – it’s no longer a peripheral issue affecting only high net worth clients. Advice firms have been contacting us directly for help because they are clearly frustrated with CGT reporting across platforms, viewing it as either lacking or inconsistent.”
Edwards said that with shrinking allowances, and frozen income tax thresholds, advisers are reworking financial plans to try and make greater use of tax-efficient structures for their clients, which requires accurate data and robust modelling tools from the platforms they use.
“Given the direction of travel for UK tax policy, this problem is only going to intensify. Platforms that have the capability to provide this data and reporting properly, and those that do it well are the ones advisers will choose to work with,” he added.
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