J.P. Morgan’s Worldwide Securities Services (WSS) has launched its tax calculation and reporting service for UCITS funds distributed into the UK.
The UK service currently calculates tax for over 320 funds and over 2000 share classes across the WSS client base.
The service, delivered through J.P. Morgan’s proprietary tax reporting system, Fund Tax Reporter (FTR), provides investor tax information in compliance with HM Revenue and Customs and HM Treasury regulations and guidelines.
FTR is fully integrated with J.P. Morgan’s fund administration services, enabling fund promoters to distribute their products to countries that require tax reporting for end investors.
Francis Jackson, WSS EMEA markets executive at J.P. Morgan said: “The launch of the UK tax service demonstrates our continued commitment to providing solutions for the more complicated aspects of fund distribution for our clients.
"The FTR platform covers a range of markets, which we are ready to grow further as tax requirements change and our clients seek new channels for fund sales.”
