Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 31 Aug 2024 14:22:29 GMT by ash000 Archit123$
Could you please clarify how this scenario will be treated for tax purposes in the UK? As an Indian citizen ( UK resident ), if I invest in mutual funds (equity) in my son's name in India, with myself as the guardian (since he is under 18 years old), according to Indian mutual fund and India Govt tax regulations, the tax implications upon maturity or withdrawal after my son turns 18 will apply to him, as he will be the owner of the investment at that time. For UK Tax reporting ( Global Income ) the tax liability will all be in my son name ( as he would have turned 18+ on maturity of this funds) or parents also will be responsible for tax .
Posted Wed, 11 Sep 2024 11:11:17 GMT by HMRC Admin 21 Response
Hi ash000 Archit123$,
As the account is as a guardianship to then be owned by your son, it will be him.
Thank you.

You must be signed in to post in this forum.