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Posted Mon, 08 Jan 2024 21:32:02 GMT by JustCheck
My wife is UK Resident and has a holding in an Exchange Traded Fund that is listed on the London Stock Exchange. The fund is invested 100% in UK Government Gilts. She received a distribution from the fund of £2900, with no other income she will have no tax to pay as this is below her personal allowance. However, as with most ETFs the fund is domiciled in Ireland. The fund is listed by HMRC as an ‘Approved Offshore Reporting Fund’. Am I correct that the distribution: a) Is Interest Income as the fund is more than 60% bonds. b) Is Foreign Interest as the ETF is domiciled in Ireland. c) Requires her to register and file a Self Assessment form to declare Foreign Income, even though she will have no tax to pay as she is under her personal allowance? I’m just checking as she bought a UK Gilt fund listed on the London Stock Exchange and now I think she may have to complete a Self Assessment to declare Foreign Income where no tax is due. Thanks in advance!
Posted Mon, 15 Jan 2024 13:59:10 GMT by HMRC Admin 19

Yes, this will need to be declared in a tax return.

Thank you.

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