nor d ea n ews NEW SERVICE TAX REPORTS Nordea Bank S.A. is now able to provide clients with country-specific tax reports for selected jurisdictions Filling out a tax declaration can be a very time- consuming process. Gathering all the necessary documents, sorting them into the right categories and totaling the relevant figures takes time. And, as well as the time factor, completing a tax declara- tion can be expensive for those who have assigned an accountant or tax adviser to perform this task on their behalf. Whether you are completing your tax declaration yourself, or have appointed an external profession- al for that purpose, having the necessary data at hand is a convenient way to save time and money. Our customised tax reporting service aims at doing just that. CONSOLIDATED REPORTING tax report Capital Gains and Income cover for Tax report2010.indd 1 1/25/10 3:43:32 PM If you have more than one account with us, or have a joint interest in another particular account, the report will be consolidated accordingly to reflect your proportional ownership in each case. COMPREHENSIVE COVERAGE Capital Gains Tax Summary Capital Gains Tax Summary Capital Gains Tax Summary calculations Summary of enclosed calculations Summary of enclosed Summary of enclosed calculations Total gains in the year, losses Total gains in the year, before before losses Page 1/ 16 1/ 16 Page UK Tax Report LU0000000385553/2010040 ID LU0000000385553/2010040 Report Report ID 1/ 16 Page 6 April 6 April 2009 - 5 April 2010 Period 2009 - 5 April 2010 Period LU0000000385553/2010040 Report ID 6 April 2009 - 5 April 2010 Period UK Tax Report UK Tax Report CG1:3 CG1:3 CG1:3 CG1:4 0.00 0.00 0.00 Losses Losses available to be carried forward to later years available to be carried forward to later years CG1:10 CG1:10 83,763.23 83,763.23 83,763.23 0.00 0.00 0.00 0.00 0.00 0.00 Total gains in the year, before losses Total of the of the Total losses losses year year Total losses of the year Losses Losses brought forward and used year year brought forward and used in the in the CG1:4 CG1:4 CG1:5 CG1:5 CG1:6 CG1:6 CG1:8 CG1:8 0.00 82,954.36 0.00 Losses available to be carried forward to later years 82,954.36 82,954.36 Losses Losses used against an earlier gain gain used against an earlier year s year s Losses used against an earlier year s gain 0.00 0.00 Losses Losses used against current income used against current year s year s income Losses used against current year s income (82,954.36) (82,954.36) Losses Losses used against last income used against last year s year s income Losses used against last year s income 0.00 0.00 0.00 0.00 CG1:10 CG1:11 CG1:12 CG1:13 CG1:11 CG1:11 CG1:12 CG1:12 CG1:13 CG1:13 0.00 0.00 Losses brought forward and used in the year CG1:5 Total gains, after but before annual exempt amount Total gains, after losses losses but before annual exempt amount Total gains, after losses but before annual exempt amount Net chargeable gains (after exemption) Net chargeable gains (after exemption) CG1:6 (82,954.36) 0.00 Net chargeable gains (after exemption) CG1:8 Additional in respect of non or dual resident trusts Additional liability liability in respect of non or dual resident trusts Additional liability in respect of non or dual resident trusts Listed Listed shares and securities shares and securities Listed shares and securities Number of disposals Number of disposals CG1:9 CG1:9 0.00 CG1:9 CG1:16 CG1:16 CG1:16 CG1:17 CG1:18 CG1:17 CG1:17 CG1:18 CG1:18 100,662.36 3 3 3 Gains in the year losses Gains in the year before before losses CG1:19 CG1:19 CG1:19 CG1:20 CG1:21 CG1:20 CG1:20 CG1:21 CG1:21 0.00 0.00 0.00 The report provides a full schedule of important data, such as capital gains/losses and investment in- come, as well as other information relevant to your individual tax assessment. The figures are broken down into the specific categories required by the relevant countrys tax authorities. DETAILED INFORMATION Number of disposals Disposal proceeds Disposal proceeds Disposal proceeds Allowable costs (including purchase Allowable costs (including purchase price) price) Allowable costs (including purchase price) Unlisted and securities Unlisted shares shares and securities Unlisted shares and securities Number of disposals Number of disposals Gains in the year before losses 17,708.00 Claims Claims or elections made or elections made 17,708.00 100,662.36 100,662.36 Claims or elections made Estimates or valuations included Estimates or valuations included Estimates or valuations included 17,708.00 CG2:22 CG2:22 CG2:22 CG2:23 CG2:23 CG2:23 CG2:24 0.00 0 0 0 Gains in the year losses Gains in the year before before losses CG2:25 CG2:25 CG2:25 CG2:26 CG2:27 CG2:27 CG2:27 0.00 0.00 0.00 Number of disposals Disposal proceeds Disposal proceeds Disposal proceeds Allowable costs (including purchase Allowable costs (including purchase price) price) Allowable costs (including purchase price) Gains in the year before losses 0.00 0.00 Claims Claims or elections made or elections made Estimates or valuations included Estimates or valuations included CG2:26 CG2:26 Claims or elections made 0.00 0.00 CG2:24 CG2:24 0.00 Estimates or valuations included Capital gains summary Tax year 6 April 2009 to 5 April 2010 1 Your name 2 Your unique taxpayer reference (UTR) The reports summaries provide an easily under- standable overview of the most important data, while detailed lists enable a thorough understand- ing of how the summarised data have been arrived at. In short, our tax reports provide a complete overview of all income, capital gains and transac- tions that ease the completion of our clients annual tax return. If you would like to subscribe to our tax reporting service, or wish to obtain more detailed information about it, please contact your Account Manager. Summary of your enclosed computations You must enclose your computations, as well as filling in the boxes read pages CGN 8 and CGN 9 of the notes. 3 Total gains in the year, before losses 10 Losses available to be carried forward to later years 4 0 0 11 0 0 Total losses of the year enter 0 if there are none 5 0 0 Losses used against an earlier year s gain (special circumstances apply read the notes on page CGN 12) 12 0 0 Losses brought forward and used in the year 6 0 0 Losses used against income amount claimed against 200910 income Total gains, after losses but before the annual exempt amount 13 0 0 7 0 0 Losses used against income amount claimed against 200809 income Annual exempt amount 0 0 8 0 0 14 Income losses of 200910 set against gains Net chargeable gains (box 6 minus box 7) but if box 7 is more than box 6, leave blank 15 0 0 9 0 0 Entrepreneurs relief read the notes on pages CGN 7 and CGN 8 Additional liability in respect of non-resident or dual resident trusts 0 0 0 0 Listed shares and securities 16 Number of disposals 19 Gains in the year, before losses 17 0 0 Disposal proceeds 20 If you are making any claim or election, put X in the box 18 0 0 21 Allowable costs (including purchase price) 0 0 If your computations include any estimates or valuations, put X in the box SA108 2010 Tax return: Capital gains summary: Page CG 1 HMRC 12/09 net CLIENT SATISFACTION SURVEY For the last two years, Nordea Bank S.A. has asked clients to complete a questionnaire with the aim of pinpointing areas to improve client satisfaction The survey is structured with three focus areas: client relationship, services and products. All clients reply anonymously, with an option to fill in a printed or an online questionnaire. The overall level of satisfaction shown in the an- nual survey has been very encouraging. How- ever of equally high importance is the guidance the survey provides with regard to wishes for improved or new products and services. One example is the need for tax reporting, which we 8 NORDEA INVESTMENT NEWS May/June 2010 are now able to provide for certain countries and which we will develop even further. Another ex- ample is to simplify mail by dispatching post only quarterly, semi-annually or annually which is also now available to all clients. We would like to thank the clients who answered last years survey. All replies are evaluated and our ambition is to implement as many of the sug- gestions as possible. The next client survey will be distributed at the end of this year.
NORDEA INTERNATIONAL PRIVATE BANKING INVESTMENTNEWS NR 94 MAY/JUNE 2010 Market News In view of the recent market turbulence, especially in the foreign exchanges, we have made a number of adjustments to our strategic asset allocation, which have also been influenced by the development of global econ
e d itor ial We live in interesting times, and I imagine you might agree with me that they are almost too interesting. In the last issue of this fine publication, I men- tioned that sovereign risk was becoming a real is- sue, but also that we believed that the Greek and other issues would be solve
Leading indicator, 10 5 0 -5 -10 -15 OECD leading indicator; y/y change 4 b ig pictu r e 0 -2 -4 -6 02 03 04 06 07 08 09 05 10 09 A QUESTION OF BALANCE 99 00 OECD GDP, y/y change Global financial markets are in turmoil again. To a large extent, this is the result of economic imbalances caused by a
bon d s an d fx EUROPEAN RESCUE PLAN The way that European politicians finally galvanised themselves into action over the weekend of 8-9 May was quite impressive. A 750 billion plan agreed by the eurozone states over that weekend comprises 440 billion of loan guarantees for governments that run into
4 2 0 -2 -4 -6 -8 Germany Japan USA equ iti e s INCREASED VOLATILITY -10 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 In the first half of April, volatility measures, such as the American VIX index, reached their lowest levels for years, indicating that most investors were relaxed and believed i
ass et allocation North America Nordics GUIDED BY EARNINGS Japan Equity markets continued to edge higher for most of April, despite the Greek wor- ries. Nevertheless, the escalating crisis of the Southern European sovereign debt markets finally exceeded investors pain threshold at the end of the
nor d ea n ews CURRENCY AS AN ASSET CLASS The modern definition of an asset class would be something like this: If it moves up and down independently, then its an asset class. While currencies do a lot of moving up and down, they also stand out for other reasons. The global foreign exchange (FX) mar
nor d ea n ews NEW SERVICE TAX REPORTS Nordea Bank S.A. is now able to provide clients with country-specific tax reports for selected jurisdictions Filling out a tax declaration can be a very time- consuming process. Gathering all the necessary documents, sorting them into the right categories and
