enquirer_2023June_HMRC
Joined: 6/19/2023
-
Self-Assessment – Mutual Fund
Dear Sir/Madam, I am a first-time tax payer who will start paying tax part-way in the tax year of 2022-23. Among other investment incomes, I hold two accumulation mutual funds that reinvest dividends as shares and I would like to know how to report the investment incomes from them. Do I report: (a) only the dividends that were re-invested after the day I become tax resident, and the capital gain (with the already-taxed dividends deducted) when I redeem the fund? (b) just the capital gain which will include the dividend reinvestments as and when I redeem the fund? Thank you.