Recreating a portfolio in a different tax residency

The tax residency of a portfolio cannot be changed once it has been set up. This is due to the fact that all data is converted to the currency and calculated according to the tax requirements of the country.

Sharesight portfolios are reflected as tax entities and as such the portfolio currency, tax setting, functionality and reporting are all related to the country of the tax residency.

If you have set up a portfolio and would like to change the tax residence, to have the portfolio performance reflected in a different currency or to utilise the tax setting, functionality and reporting of a different country, please follow the step below:

1 – Within the portfolio run the All Trades Report. Click on the ‘Reports’ tab, click ‘All Trades Report’.

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2 – Within the All Trades Report select the date to be ‘Since Inception’.

3 – Export the report either to Google Sheets or Excel.

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4 – Add an additional portfolio. If you are on a Free plan or have already utilised all the portfolios in your current plan you will either need to upgrade your plan to access more portfolios or delete the current portfolio.

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5 – Convert the downloaded All Trades Report to a CSV format.

6 – Once you have added your new portfolio, use the ‘File Import’ to import the All Trades Report file you exported from the original portfolio.

Note: If you have created some unlisted investments or investments on stock exchanges that Sharesight doesn’t currently support (e.g. added them as custom investments), these cannot be uploaded until you have manually created the holding in the portfolio with the same instrument codes (ticker) as on the All Trades Report.

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Now that you have populated your portfolio, we recommend you verify and confirm any automatically generated data.

Note: This process will import all the historical trade history you had in the old portfolio. The All Trades Report will not import any dividends or corporate actions that you may have adjusted and confirmed in your old portfolio. You may refer to the All Trades report to advise on any adjustments you previously made on the dividends.

Last modified on October 23, 2018 UTC