Genovo Suitability Report 2018-19 Tax Year Updates

Team Genovo

Here’s a summary of the new updates and features you’ll discover the next time you log in to the Genovo suitability report app.

App

Module	Feature	Update / Enhancement
Client Library	Tax Status field	We've added 2 new tax rates to reflect the changes to the Scottish income tax system. - Starter rate taxpayer - Intermediate rate taxpayer

Section Wizards

Section(s)	Step(s)	Update / Enhancement
New Pension Recommendation	Disadvantages & Tax Implications	We've added a new advice reasons which can be used to make an Intermediate rate taxpayer in Scotland aware that they will need to claim the additional 1% tax relief to which they are entitled.

Report Content Manager

Section	Snippet Name	Update / Enhancement
Mortgage Recommendation	Stamp Duty Intro Residential Property Stamp Duty Residential Property SDT (BTL & 2nd home) Commercial Property Stamp Duty	We've updated these snippets so as to distinguish between the different rates for England and NI, Scotland and Wales.
Glossary of Terms	Pensions Auto Enrolment Annuities Investment-related Protection Products Mortgages Equity Release	We've updated and added to the terms in these snippets.
Appendix - Product Information	QROPS SIPP Collective Investment Taxation (Private Client) Collective Investment Taxation (Bare Trust) Collective Investment Taxation (Discretionary and Accumulation & Maintenance Trust) Collective Investment Taxation (Interest in Possession Trust) Direct Equity Investment Taxation (Private Client) Direct Equity Investment Taxation (Bare Trust) Direct Equity Investment Taxation (Discretionary and Accumulation & Maintenance Trust) Direct Equity Investment Taxation (Interest in Possession Trust) Discretionary Managed Portfolio Taxation (Private Client) Discretionary Managed Portfolio Taxation (Discretionary and Accumulation & Maintenance Trust) Discretionary Managed Portfolio Taxation (Interest in Possession Trust) Discretionary Managed Portfolio Taxation (Bare Trust) Enterprise Investment Scheme General Investment Account Taxation (Private Client) General Investment Account Taxation (Discretionary and Accumulation & Maintenance Trust) General Investment Account Taxation (Interest in Possession Trust) General Investment Account Taxation (Bare Trust) Investment Trust Taxation (Private Client) Investment Trust Taxation (Bare Trust) Investment Trust Taxation (Discretionary and Accumulation & Maintenance Trust) Investment Trust Taxation (Interest in Possession Trust) Junior ISA Lifetime ISA NS Pensioner Bond Structured Investment Product Taxation (Private Client) Structured Product Taxation (Bare Trust) Structured Product Taxation (Discretionary and Accumulation & Maintenance Trust) Structured Product Taxation (Interest in Possession Trust)	These snippets have been updated with new wording or to reflect new tax allowances etc.
Appendix - Technical Notes	Pensions Inheritance Tax Long Term Care Planning	These snippets have been updated with new wording or to reflect new tax allowances etc.

Please remember the changes we make to the report template will only take effect in your reports automatically if the Genovo version of the snippet is selected as active in your Report Content Manager (it is by default).  For more information about the Report Content Manager and updating of snippets check out this video tutorial.

Let us know what you think

If you’ve got any suggestions – no matter how big or small – as to how we can improve Genovo or there’s a new feature you’d like to see added, we’d love to hear from you. Send us a message with your thoughts and we promise we’ll get back to you.

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