Fund Manager
PORTFOLIO MANAGEMENT SOFTWARE
Contact Us

UK Stamp Duty

Questions about updating prices or transactions in Fund Manager

Postby OneEyedMan » Tue Mar 15, 2016 5:08 am

I am a new user, currently using the trial version of Fund Manager.

In the UK, a tax (Stamp Duty) is payable on Buy/Sell transactions for some securities (e.g. ordinary shares/common stock), and this constitutes an overhead cost in addition to the broker's commission.

Is it possible to separate this out when entering/importing a transaction, or would it be necessary to bundle it up with the commission?
OneEyedMan
 
Posts: 9
Joined: Tue Mar 15, 2016 4:52 am

Postby Mark » Tue Mar 15, 2016 8:39 am

Hi OneEyedMan,

Thanks for trying Fund Manager.

If you wanted it associated with the buy/sell transaction you would need to lump it in with commission. There is only the 1 commission field available on buy/sell transactions. If you need to keep a running total separate from commission fees you could record it as a distribution of type "Account Fee". You could also rename one of the distribution types to "Stamp Duty", and use that. Account fee type distributions are normally recorded as negative values, as these are negative distributions. Just record the negative valued Stamp Duty distribution on the same date as your buy/sell, and it will be factored into your ROI returns. If you want this stamp duty to be factored into your capital gains/losses it would need to be recorded as an "Account Fee" type of distribution. You can rename this field, but you need to use the one with the original label of account fee. This distribution type has special treatment in calculating capital gains/losses, as it can optionally be included or not. From within any report window see "Options / Report Preferences... / Capital Gains / Include Account Fees in Basis".

For the dialog that allows you to rename the distribution types, see: "Options / Distribution Labels...".
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
Site Admin
 
Posts: 11253
Joined: Thu Oct 25, 2007 2:24 pm
Location: Chandler, AZ

Postby OneEyedMan » Tue Mar 15, 2016 9:37 am

Hi Mark
Many thanks for the swift response. I think it's going to be good enough just to lump it in with commission in my case. I should add that I'm very impressed with the software so far!
OneEyedMan
 
Posts: 9
Joined: Tue Mar 15, 2016 4:52 am


Return to Prices and Transactions

Who is online

Users browsing this forum: No registered users and 17 guests

FundManagerSoftware.com | Search | Site Map | About Us | Privacy Policy
Copyright © 1993-2024 Beiley Software, Inc. All rights reserved.