that does help me -- no one has made it clear until your post, that the stocks/equities would not fall under the Offshore Funds category. So I can deal with all of that.
- I had £800 capital gain from stocks/equities (less than the personal allowance for capital gains). No tax should be due.
- I had a £175 in dividend income from stocks/equities. No tax should be due. I also paid a 15% withholding tax on some of the stock dividends already -- I recognise I can't claim that back from HMRC... Fine.
From the ETFs: they are non-reporting, I checked into that already.
I only received distributions from these funds; no sales occurred. So I understand now that the offshore funds manual will not come into play here -- i.e. my income tax will not increase.
ETF distributions from Canada are broken down into various types of income, and I believe from your post that I will simply treat these types of income as per the income for stocks/equities. i.e. the distributions from the funds are composed of:
- £29 in Capital Gains. Add this to the £800 number from the stocks.
- £1100 as foreign income distribution*, of which
- £390 was automatically reinvested in the funds, so...
- Do I report £1100 or £710 as foreign income distributions?*
*Foreign income distribution:
On the Canadian Aggregate Bond fund, this is reported by the ETF as "Other income".
On the Canadian-based equities fund, this is reported as "Eligible Dividends".
And on the international-based equities funds, this is reported as "Foreign Income".
To the HMRC, is it all just "foreign dividend income", as with the stock dividends, as you say?