May Wong
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RE: Capital Gains when Dividends are automatically Reinvested
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RE: Capital Gains when Dividends are automatically Reinvested
I have invested in some mutual funds with Interactive Brokers account and the monthly dividends distributed were automatically reinvested to purchase additional unit. I have no option to choose receiving in cash. My questions are : - for these automatic reinvested dividend, I DO NOT need to declare as dividend income - Upon disposal, the Gain will be the Disposal Proceed minus the initial cost of investment (excluding reinvested dividend amount) and incidental costs, am I correct - In last year, I have reported these automatic reinvested dividend as dividend income and paid tax on them. Is it OK if I start NOT declare the dividend from this years onwards? - Or do I have to write to HMRC for correction of past year?