Financial Planning software firm CashCalc has launched a gross cashflow modeller which accounts for tax calculations.

The tool sits alongside the firm's existing net cashflow tool.

The new ‘Cashflow Modeller (Gross)’ tool allows Financial Planners to create cashflow plans which account for tax rates and thresholds including:

• Income and Dividend tax
• Lifetime Allowance and pot crystallisation
• Scottish tax rates (and future Welsh tax rates)
• Money Purchase Annual Allowance
• Loss of Personal Allowance
• Marriage Allowance
• Capital Gains Tax
• National Insurance Contributions
• ISA allowance
• Pension contribution tax relief

The tool also has a few enhancements not available in the original net cashflow tool. For example, it breaks down expenditure within the ‘Money in vs Money Out’ chart into 3 expenditure lines showing essential, lifestyle and discretionary expenditure.

Financial Planning software firm CashCalc was sold to FE Fundinfo last year which has invested heavily in integrating the cashflow modelling tool with CashCalc's existing set of tools. CashCalc continues to be offered as a stand-alone project.

FE fundinfo was formed by the merger of FE, fundinfo and F2C in 2017. The company provides investment research and model portfolio services to UK advisers.  

CashCalc was set up by Chartered Financial Planner Ray Adams, chairman of Niche IFA, in South Wales, in 2014.

Other recent developments from the software provider include an app for iOS and Android which can be used by financial advisers and their clients to improve communication.