The Investment Management Association has produced a simple fact sheet for consumers explaining what they need to tell their taxman about their unit trust investments.
Produced as a downloadable news alert, this four-page summary dealing with the tax treatment of unit trusts and the income distribution tax and dividend vouchers which investors receive from investment firms.
How to complete the relevant tax forms and boxes is broken down into easy chunks which explain for example, investors will have to complete all associated sections of tax returns even where investors opt for ‘accumulation units’ and no income is paid out.
In particular, the IMA document explains clients only need to detail the gross income, net income and tax withheld of any investment on Revenue self-assessment forms.IFAonline
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