Barbara Hodges
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UK Tax on Passive Holding of US Mutual Fund
I am UK resident and domiciled but also a US citizen. I have a passive holding in a US mutual fund which sends me "Total Ordinary Dividends" and "Total Capital Gain Distributions" information that I declare in the US. Each is over the level at which you start paying UK tax. They are reinvested rather than paid out in cash to me. Do they need to be declared here? If so, what categories should they be put in in Foreign Income? Capital gains distributions has me particularly flummoxed.