Cloud accounting software that automates bookkeeping, invoicing, and financial reporting for small and growing businesses.
PrompTax
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About PrompTax
PrompTax is a software platform designed for UK accountancy practices to calculate Capital Gains Tax (CGT) efficiently. It automates the extraction of trades from broker statements using AI, allowing accountants to review and verify the data before calculations are performed. The system applies HMRC matching rules such as the Same Day Rule, 30 Day Rule, and Section 104 pooling automatically, ensuring compliance with current regulations. It supports multi-currency conversions, full options trading calculations, and continuous Section 104 pool ledgers across tax years. The platform generates audit-ready PDF reports with cryptographic verification and outputs directly mapped to SA108 fields for Self Assessment filing. PrompTax is built for professional use, offering features like client management portals, cross-year matching detection, and corporate action handling to maintain accurate cost basis through restructurings.
Key features
- Multi-file PDF and CSV upload
- HMRC matching rules (Same Day, 30 Day, Section 104)
- Full options trading support (Section 144, 148)
- Multi-currency conversion with historical rates
- Continuous Section 104 pool ledger
- ISA account detection and exemption flagging
- Audit-ready PDF reports with SHA-256 hashes
- SA108-ready output for Self Assessment
Use cases
- Calculating CGT for clients with complex trading portfolios
- Managing Section 104 pools across multiple tax years
- Handling equity options and corporate actions for accurate cost basis
Pros
- AI-powered trade extraction from broker statements
- Automatic application of HMRC matching rules
- Multi-currency support with historical exchange rates
- Audit-ready reports with cryptographic verification
- Multi-client management and Section 104 pool tracking
Cons
- Private beta access only
- Requires desktop or landscape mobile view
- No explicit free tier or pricing details
Frequently asked questions about PrompTax
What is PrompTax and who is it designed for?
PrompTax is an AI-powered Capital Gains Tax (CGT) calculation platform designed specifically for UK accountancy practices. It automates the extraction and calculation of CGT from broker statements while ensuring compliance with HMRC rules.
How does PrompTax handle broker statements?
PrompTax uses AI to extract trades from uploaded broker statements in PDF or CSV format. Users review and verify the extracted data before the platform performs the calculations automatically.
Does PrompTax support complex trading scenarios like options?
Yes, PrompTax fully supports complex trading scenarios, including equity options such as Section 144 (exercise/assignment) and Section 148 (written options), which most CGT tools do not handle.
Can PrompTax detect ISA accounts and exempt trades?
Yes, PrompTax automatically identifies ISA and tax-exempt accounts, flagging exempt trades to prevent their inclusion in CGT calculations.
How does PrompTax ensure compliance with HMRC rules?
PrompTax applies HMRC matching rules such as the Same Day Rule, 30 Day Rule, and Section 104 pooling automatically. It also generates audit-ready reports with cryptographic verification for tamper-evident provenance.
What kind of reports does PrompTax generate?
PrompTax generates detailed computation proofs showing how each gain or loss was calculated, along with SA108-ready outputs for Self Assessment filing. Reports include cryptographic hashes for authenticity verification.
