Skip to main content

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

Underpaid tax on unit trust income

NS999
Posted Tue, 16 May 2023 15:38:54 GMT by NS999
Hi, I have received a letter regarding overseas assets income and gains. I do not have any of those, but I did have a UK Unit trust that invested in part in global funds and for the year 2021/2022 I received just over £1120. I am a pensioner and received very little interest in my savings accounts. How do I report this? Do I have to do a full tax return?
HMRC Admin 32
Posted Tue, 23 May 2023 13:24:02 GMT by HMRC Admin 32
Hi,

If the £1120 is interest, you can send in a letter. If it is a capital gain then this is covered by your annual allowance and you do not need to report it.

Thank you.

You must be signed in to post in this forum.