This is the TimeToTrade help wiki. Use the TimeToTrade Trigger Trading Technology™ to execute your trades when Price, Candle Stick, Trend Line, Volume and Technical Analysis chart conditions are met - no coding required. Trade directly in the world’s global markets. Backtest your Trading Strategies. Calculate your UK HMRC Capital Gains Tax liabilities. Manage your Investment Club.
How do I add additional accounts
If you have share, forex, unit trust funds and spread betting portfolios with multiple brokers, you can set up additional Portfolio Accounts in TimeToTrade to track each broker account. You can also set up Portfolio Accounts denominated in different currencies - useful if you invest in overseas equities or have overseas bank or broker accounts.
Associated with each Portfolio Account are a set of income/expenditure and investment transaction accounts. You can decide to simply use one Portfolio Account or have multiple Portfolio Accounts. For example you may have a bank account and a broker account, therefore you may choose to create a separate Portfolio Account for each account. You may then decide to use the bank account Portfolio Account to represent only the transactions that appear on your bank account statement, and the broker Portfolio Account to only represent transactions that appear on your broker statement.
To create a new Portfolio Account, navigate to the Portfolio Accounts using the Portfolio navigation as illustrated in the following screen shot.
When viewing the the Portfolio Account page, click on the ‘add/edit’ button as illustrated in the following screen shot:
This will now place the Portfolio Account page in to 'edit' mode. While in the edit mode, you can add additional Portfolio Accounts or edit existing Portfolio Accounts. To add an additional Portfolio Account, while in Portfolio Account ‘edit’ mode, enter the new Account name in the blank text box, then select the account type and currency from the drop down menu as illustrated in the following screen shot.
In this example we have created a Portfolio Account for a account, with the name "My Broker" and set the currency to British Pounds (GBP). When you have entered the Portfolio Account details, click on the 'add' button to create the new Portfolio Account or click on the import button to import investment transaction from a spread sheet or another accountancy package.
A broad range of Portfolio Account types are supported. Individual users can select from the following Portfolio Account types:
- Individual Account: this type of Portfolio Account should be selected for bank or broker accounts that are only in one person's name. The resulting taxable liability for Individual Accounts is 100%.
- Joint Account: this type of Portfolio Account should be selected for bank or broker accounts that are held in the name of more than one person; typically joint accounts are held in the name of two partners (spouse), and so by default the taxable liability from gains, losses and income for joint account is 50%. However, you can edit the taxable percentage of the joint account to adjust the resulting tax liabilities e.g. you may only be liable to 30% of the gains, losses and income arising on that account and so therefore enter the value 30 into the taxable field for the appropriate joint account
- ISA/PEPP Account: These Portfolio Account types are UK tax free wrappers. ISAs and PEPPs can only be held in one persons name and there is no resulting Income Tax or Capital Gains Tax from returns generated with the ISA/PEPP wrappers. The resulting the taxable liability on ISA/PEPP Portfolio Account is set to zero, therefore investment disposals made within the ISA/PEPP wrapper will not appear on the Capital Gains or Income Tax reports that timetotrade generates.
- SIPP Account: SIPP accounts are Self Invested Pension Plans and should be used to capture cash and investment transactions held in your SIPPs. As investment disposals within SIPPs are not subject to taxation, they will not appear on the Capital Gains or Income Tax reports that timetotrade generates. As a result the taxable liability on SIPP Portfolio Account is set to zero.
- Petty Cash: Petty Cash Portfolio Accounts are only available to Investment Clubs and are typically used to pay for sundries. Petty Cash Portfolio Accounts should not be used to hold any assets that generate an Income or Capital Gain or Loss. As a result the taxable liability on Petty Cash Portfolio Accounts is set to zero.
- Investment Club Accounts: This account type is only available to Investment Clubs. All gains, losses and income derived from cash and investment transactions will be 100% taxable. The resulting gains and losses will be apportioned between Investment Club members using the Unit Valuation System. A variety of methods for apportioning gains and losses are supported.
- Simulated: The simulated trading Portfolio Accounts are treated separately from Actual Portfolio Accounts. All transactions in simulated Portfolio Accounts are excluded from Capital Gains and Income Tax calculations.
When you are finished adding new Portfolio Accounts click on the 'done' button to return to the Portfolio Account screen. If you have made a mistake or need to remove a Portfolio Account, you can do so by clicking on the 'add/edit' button - as per the instructions contained in this link Delete Accounts.
Once your Portfolio Accounts are set up, you are now ready to start inputting investment transactions. You can either import or manually input all historical legacy transactions associated with specific bank and broker account or alternatively create a Portfolio Account for each bank and broker account, which start on a specific date.
For an explanation on how to add a dividend transaction, click on this link Add Dividend Transactions.
For an explanation or how to add other income or expenditure types to a Portfolio Account, click on this link How to Add Expenditure Transactions to an Account
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- Create Simulated Trading Accounts to test your Trigger Trading™ Strategies - learn more
- Real time Forex, UK, European and US stock market data - learn more
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- All the tools you need to set up and run a successful investment club - learn more
- Manage your Portfolio and calculate UK HMRC Capital Gains liabilities and SA 108 CGT Tax Returns - learn more
- Create Trading Competitions for you and your friends - learn more
- Apply for a trading account today to get the Live Account Features - apply now
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading spread bets with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. All clients should be aware that trading involves risk.