IN PLAIN ENGLISH
One UK tax year (6 April to 5 April) at a glance: the dividends, capital gains and savings interest the app knows about outside ISAs and pensions, each against its allowance, with an estimate of the tax on what's above them. Choose this tax year or last; which account each holding and cash account sits in is set on the Portfolio page.
WHY IT HELPS
Shows how much of each allowance has gone and where the year might end up, with its working: which payments, which sales and how each sale was matched.
HOW IT'S CALCULATED
Dividends: each recorded dividend placed at its estimated payment date and counted in the tax year that falls in, split by the accounts its shares were in at the ex-date (Taxable Dividends); this tax year can add the dividends still forecast before 5 April. Gains: sales from general accounts matched to purchases as HMRC does (the same day, then the next 30 days, then the pooled average cost), less the year's losses (Net Capital Gains). Interest: the figure you entered for the year, or a year at today's balances and rates on cash accounts outside ISAs and pensions. Each is set against its allowance (Dividend Allowance, Annual Exempt Amount, Personal Savings Allowance) and taxed at your band's rates or, working from your other income, at the rate of the band each pound lands in (Tax Band, Estimated Tax on Investments). Lots and cash accounts with no account set count as taxable. Everything is in pounds; the rates and allowances are GOV.UK's for the year, checked on the date the widget shows. An estimate, not tax advice or a tax return.
Educational content only. It is not personal financial advice.