News from FSL – January 2020

CGiX:

• HMRC Extract – BBSI & OI Reporting UK Clients Only
  With the introduction of CRS Reporting in July 2014 the HMRC defined list of ‘Fully’ reportable countries has gradually reduced and now only UK residents are to be reported as part of the BBSI & OI reporting produced from CGiX;
• Windows Authentication
  Now available to be used by non-admin users in a multi company CGiX environment;
• eXimius Flat File Extracts
  CGT and NDR extracts are now available via the Scheduler to allow for a smooth flow of data from CGiX to eXimius;
• XML Extracts
  Any characters outside the 0 – 127 ASCII range can now be fully interpreted, thus allowing for a range of accented characters;
• Auditing
  A full audit tail of Account Events is now available to users via the front-end Transaction screen;
• Branch Functionality
  Clients using the CGiX Branch functionality can now reconcile by branch.

Front Office What-if:

• Phase 1 development completed;
• Integration testing in process and due to be released in Q3.

Offshore Reporting Funds (ORF) Data:
There has been an increase of interest in ORF data.  Several new clients have signed up to the service over the past 6 months and we have recruited another Analyst to enhance the Data Analysis Team.

We are pleased to announce the upcoming launch of the FSL Client Portal. Following comments at the CGiX User Group, we have developed a tool to make accessing useful information easier.

This secured portal contains the following information:

• CGiX User Guides
• CGiX Release Highlights
• CGiX Help Sheets
• Training
• FSL Newsletters
• FSL Event Registration and Updates

As well as access to CGiX guides and updates, you will be able to register for training, see answers to specific issues and join in the discussion on future events.

The FSL Client Portal will be available by the end of January and we will send usernames and passwords to you shortly. Please look out for our email.

The portal will continue to evolve with additional functionality to be added in the coming months.

We hope you will be able to find the information you need on our Client Portal, but if you have additional queries, please contact our BA or Data Analysis Teams directly.

At the CGiX User Group in October, many of you showed an interest in discussing specific topics with us in a small Focus Group.  Based on the information that we gathered, we have now arranged the first of these sessions that will be devoted to a discussion on “Multi-Jurisdiction”.

The session will be held at the FSL office on Tuesday 11th February 2020 from 10.00 to 12.00 followed by lunch. Click here to reserve a place at this session.

A list of suggested topics has been collated for future focus groups. Use the link below to indicate which themes interest you.

For any further information, please contact Andrea Webb on +44 (0)20 7011 9991.

Expert Predictions for 2020:
To understand where the market might be heading in the new year, FSL have looked at some of the many expert predictions for 2020.

HMRC Crackdown on Offshore Fund Holders:
HMRC has given notice that they will soon be mailing taxpayers with a renewed focus on wealthy UK offshore fund holders.

General Election Tax Proposals:
FSL summarised the proposed changes to taxation from the manifestos of three main parties.

FSL Chain Mail:
Many of our customers have showed an interest in being kept up to date on key issues, so FSL Chain Mail was launched. The 1^st and 2^nd issues are available on our blog now.

The FSL Chronicles:
August 2019 was the 25^th anniversary of FSL, since its official establishment in 1994. The founder David Pirrie has shared a story of FSL as an early Fintech startup.

Centrepoint Sleep Out:
To increase awareness of youth homelessness and the struggles they face, our employee Megan Rook took part in one of Centrepoint’s Sleep Out events.