reporting fund

Dear HMRC I have unit trust bought from other country. I can find it under the reporting fund list under HMRC website. May i clarify 2 points from you? 1. For the intetest i recieved （＞5000 pounds annually), should it be counted as DIVIDEN instead of overseas INterest category ?( as they have different tax rating) 2. If i dispose it in future, will the gain counted as Capital Gain instead of Income ? Many thanks for your clarification Mr Wong

Hi samwai,

Guidance on the tax treatment of income arising from the various types of offshore unit trust is provided at IFM13356.  

IFM13356 - Offshore Funds: participants in offshore funds: participants within the charge to income tax: income and distributions from non-reporting funds: non-transparent funds

Thank you.

If I sold my overseas fund and it ends up a capital loss. Did it mean that I do not need to report this trade to HMRC during tax submission.

Hi,
 

There is no requirement for you to declare a loss to HMRC.  If you do not declare the losses to HMRC, you are unable to carry them forward to set against any future gains . The guidance on losses at CG15800 provides more information : Capital Gains Manual . Thank you.