Products and Services

Courses on Taxation

Awareness of Tax Suitability (Wealth Managers)

Are you tired to play Russian Roulette with portfolio performance after tax?

The legal system on income tax for private portfolios is very different from one country of residence to another.

But you do not need relearn everything from scratch each time you deal with a new jurisdiction!

There are common rules underlying the income tax of financial instruments. If you learn them, every new tax system will start making sense. Enter the Standard Income Model.

SettleNext has been delivering courses on the taxation of financial instruments since 2010. We have the experience.

Courses for are typically delivered on-site (1 day).

 

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Foundations of Operational Taxation (Back Office Staff)

This is the original and tested course delivered since 2013, continually updated and improved.

Currently there are no courses on the market providing the real know-how needed for staff in back offices, on the foundations of operational taxation:

Courses for are typically delivered on-site (2 days).

 

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TaxRadar® Tax Suitability of Client Portfolios

®Tax Radar is a registered trademark of SettleNext.

Mitigate the risks of hitting portfolio performance after tax!

Every private individual must pay income tax, up to 35% or even 50%, according to their country of tax residence. That's a huge impact on performance.

Tax rules are strict: if a financial instrument is incompatible, harsh financial penalties are applied.

Tax regulation can and will destroy the performance of the portfolio, with various mechanisms and penalties such as:

  1. Increased tax rates (e.g. from 20% to 50%)
  2. Inability to offset losses
  3. Inability to deduct fees
  4. Increased reporting burden

All these punitive mechanisms can substantially increase the effective tax rate, and sometimes cause capital losses.

Tax Radar is an automated analysis tool at ISIN level

Tax Radar has been actively developped since 2014, at a time where very few banks and consultancies were aware of the issues of tax suitability.

Tax Radar scans the financial instruments to check for the various mechanisms and penalties used by tax systems to increase the effective tax rates of your private clients. It covers several countries.

In case you:

then Tax Radar is the service for you.

Just send us your list of ISINs1, we will take care of the rest. You will rapidly receive a complete report on the suitability of the financial instruments for the jurisdiction of your client.

Whether it is 10, 100 or 10'000 financial instruments, we can do it.

It is fast, economical and does not change anything to your internal organization. Moreover, it is available now.

Really, it's that simple.

Jurisdictions Already Available

If your private client is resident of the following countries, then you are in luck:

Jusisdiction Tax Regime Other Regime Note
France Flat Tax ('Macron') Traditional
Italy Ordinary / Risparmio amministrato Risparmio gestito
Germany Ordinary
UK Ordinary RND
Russia Ordinary Also covers FX regulations
Spain Ordinary
Israel Ordinary

More are on the way.

   

Get Your Back Covered!

Need to back up the findings with recognized signatures? On request, we will involve reputable tax experts of the market who will verify the findings (paying service).

 

More info on Tax Radar?

 

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Fight Against Money Laundering: Connecting Accounts and Person

Now that AML involves the fight against tax fraud, banks must be able to adopt a look-through approach to companies, at the level of the single transaction.

Indeed, FINMA (the Swiss regulatory body of banks and the financial industry), recently stated (in a high-profile case), that:

To combat money laundering effectively, every relevant department within the bank must be able to see all the client’s relationships with the bank instantly and automatically.

Unfortunately, the Core Banking Systems have not been designed for that function. It is difficult even with modern anti-AML software, to achieve that result.

The problem is identifying what those relationhips between account and persons are, and to pull together the data of the bank into a consistent data set.

There are many obstacles in such a project, and projects can slow down and even fail.

At SettleNext, we are uniquely qualified to pull together people, processes and systems to build a trusted, up-to-date Compliance data repository. We can make it work, so that your Compliance Department can determine, quickly and efficient, what person is connected to what accounts, and with which deposit/withdrawal transactions.

That is because we have both the business expertise and the technical expertise to take the problems apart and solve them.

If you want to systematically relate the transactions of beneficial owners to accounts of companies, trusts, insurance contracts, etc., we can help you achieve that.

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  1. Some financial instruments are less common, internal to your financial institution and/or do not have an ISIN.