EDI Launches UK Tax Return Data Feed

by Mike Godfrey, Tax-News.com, Washington

17 May 2006

Exchange Data International (EDI), a leading provider of high-quality, accurate international securities data, has launched EDI UK Tax, a cost-effective data feed designed to complement tax return software.

EDI says that accountants and other tax professionals using UK Tax will save time, reduce errors and ultimately decrease the cost of preparing individual investor tax returns.

Accountants, legal professionals and stockbrokers need to collect a variety of vital information for tax-reporting purposes. Without up-to-date information on dividends, capital changes, name changes and so on, filings may be incorrect.

To date, gathering all the necessary data from a myriad of sources has been enormously time-consuming. Often, advisers rely on their clients to provide information related to their share portfolio, or they purchase a book service, which is expensive and cumbersome. In either case, data has to be entered into the system manually, which introduces potential for error. A more practical way is to subscribe to an automatic data feed, but most products on the market are too expensive for many users.

EDI says that UK Tax resolves this issue by making all the data available from a single, easily accessible, affordable source. Data items on all UK quoted stocks, including those listed on the Alternative Investment Market, UK authorized Unit Trusts and Open Ended Investment Companies are delivered directly to client systems via a secure Internet connection. Coverage extends to more than 13,000 securities and 2,000 funds run by around 130 management companies.

Users can obtain Group 1, 2 and equalization figures for Unit Trusts and Open Ended Investment Companies. In addition, they can search by industry standard security identifiers such as SEDOL or ISIN. Update frequencies can be monthly, quarterly or year-end annual delivery.

“There is no doubt that users will benefit from the vast amount of information delivered directly to the desktop through a browser connection or data feed,” says Jonathan Bloch, CEO of Exchange Data International. “EDI’s new UK Tax product will increase back-office productivity by providing quality data in a timely manner through a user-friendly Internet application.”

Established in 1994, Exchange Data International is the premier provider of quality and accurate international securities administration reference data. The company provides back office solutions and securities data to most of the major brokerage houses, custodians, and data vendors internationally. In the decade since it was founded, EDI has garnered a worldwide reputation for high quality and accuracy of its international securities administration data. EDI has won acclaim for its innovations and rapid deployment of state-of-the-art technologies. This has allowed the company to expand both its product range and its geographic coverage, while retaining its original advantages as a lean company with low overheads that listens to its clients and responds to their needs and concerns in a flexible, innovative and cost- effective manner. EDI is a wholly owned subsidiary of Information Publishing Plc.

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