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Posted Thu, 25 Jan 2024 10:52:34 GMT by
Hi, I sold mutual fund shares from an Italian bank account, which includes a variety of investments (shares, bonds..). The Italian bank provided a summary of total capital gains and taxes paid, but my UK accountant requires a detailed breakdown for each individual asset in the fund. I'm very concerned the bank may not comply with this detailed request. Would appreciate any advice on handling this? To ensure UK tax compliance, I'm also open to paying more taxes in UK if necessary Thanks, Massimo
Posted Mon, 29 Jan 2024 13:14:27 GMT by HMRC Admin 32

We cannot comment on the details supplied by the Italian bank, as it is not a HMRC matter.

Thank you.
Posted Mon, 29 Jan 2024 14:21:00 GMT by
Apologies for any confusion earlier. My query is specifically about guidance for completing the UK Tax Return, particularly in relation to the Capital Gains section. - How should I incorporate information when the Italian bank doesn't provide a detailed breakdown by asset? - Would it be appropriate to include a supplementary note in the Tax Return to explain that the section on capital gains has been filled out based on the information available from the Italian bank? Thank you for your assistance
Posted Thu, 01 Feb 2024 09:34:15 GMT by HMRC Admin 2

Yes, please include a document that supports your capital gains gains or losses.  This can be a calculation or a breakdown of figures used.

Thank you.

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