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Where Taxpayers and Advisers Meet
Gains on (foreign) reporting funds
A short while ago the 'distributor status' has been renamed 'reporting status' for a certain category of investment fund. Many - if not most - non UK, and EU - funds fall into this category, among them most US ETF's. Gains are taxed as income, question is - do these gains stay tax free if total annual income is below the annual exemption?
Re: Gains on (foreign) reporting funds
Is your statement correct?
On a disposal of an interest in a non-reporting offshore fund any "capital" gain is subject to income tax not CGT; hence the annual exempt amount available for CGT is inapplicable.
Gains on disposals of a reporting fund are subject to CGT.
On a disposal of an interest in a non-reporting offshore fund any "capital" gain is subject to income tax not CGT; hence the annual exempt amount available for CGT is inapplicable.
Gains on disposals of a reporting fund are subject to CGT.
