You never stop learning:-) I just learned that there is such a thing as ERI (Excess reportable income) and out of curiosity checked my positions against a KPMG database (https://www.kpmgreportingfunds.co.uk/). Well, one of those indeed carries an ERI! So I don't get any income now but I still have to include the ERI in my income/tax return and have to pay taxes on it. Lovely idea.
What's now going through my mind is the question what happens when I sell the position sometime in the future, say a few years from now . If there is a gain I may have to pay CGT -- but what about the ERI I already paid in the years before? Do I get this back? Is it deducted from the CGT? Or is there third or fourth possibility?
Anyone who knows ERIs... please help!
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