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Posted Tue, 16 Nov 2021 15:39:50 GMT by Ben Kilkenny
I am a UK resident with a UK stockbroker "non tax protected" dealing account. I have two questions regarding the treatment of 'offshore' (Luxembourg) Exchange Traded Fund (EFT) gains which I recently purchased and then sold. The EFT's are non reporting. My understanding is that any gains on disposal are treat as income (rather than as Capital Gains) Question 1 - Do I report such gains in Box 41 of SA106 (2021)? The notes Question 2 - When calculating gains can you confirm that the calculation method is the same as usual in terms of share matching rules Firstly - Shares acquired on the same day as the disposal (same day rule); Secondly - Shares acquired in the 30 days following the disposal (bed and breakfasting rule) Thirdly - Pooled shares (Secion 104 holding) Thank you very much
Posted Thu, 18 Nov 2021 11:32:26 GMT by HMRC Admin 29

You need to make an entry in box 41 if you have disposed of an interest in an offshore fund and realised an offshore income gain.

You can find guidance here:

 IFM13382 - Offshore Funds: participants in offshore funds: participants within the charge to income tax: disposals: non-reporting funds: overview

Thank you.

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