Exchange Data International (EDI) has partnered with Financial Software Limited (FSL) to provide data on complex investment vehicles. With HMRC clamping down on offshore funds tax avoidance, the firm said there is growing demand for Offshore Reporting Funds services.
The Offshore Reporting Funds service provides a full dataset of various frequency equalisations, and identification of dividend and interest, which can potentially reduce Income and Capital Gains Tax.
FSL has transformed the time-consuming, labour-intensive task of identifying funds and determining tax liabilities into a simpler, streamlined process.
David Pirrie, Founder & Non-Exec Director of FSL, said: “We have worked with EDI for many years; therefore, this new service is really just another expression and extension of our partnership. However, it absolutely plays to the strengths of each company. FSL understand the accuracy, detail and completeness of information required to make correct tax computation. Whereas, EDI understand the extent of the market and has access to those businesses that require this niche tax data product. It is a great partnership.”
Jonathan Bloch, CEO of EDI, added: “EDI is pleased to be working together with Financial Software Limited in making available their data on Offshore Reporting Funds. This data is usually only available very expensively from major accountancy firms and this dissemination should begin to break their hold on this marketplace.”
Exchange Data International (EDI), Financial Software Limited (FSL), Partnership, Tax avoidance, Offshore reporting, David Pirrie, Cayman Islands