Accumulation Units
arongunningham
Member
It's late in the day and I need to double-check something:
I have an email from a fund manager who says that all gains in Accumulation units are income gains, no capital.
That's not my understanding (which is that it's likely to be a combination of both income and capital).
Inc units, on the other hand are 100% capital gains, I thought....
Comments
... P.s. the units are held offshore. I don't know if that matters?
It sounds like it's an offshore fund that does not have 'reporting status' and therefore income tax is payable on gains for a UK investor.
This might help?
https://www.ey.com/Publication/vwLUAssets/ey-uk-reporting-fund-status/$FILE/ey-uk-reporting-fund-status.pdf
Yeah I think that's right too.
But he's specifically pointing out the situation has arisen because it's an ACC unit.
I think it's more to do with non-reporting and reporting. (unless you can only have non-reporting funds as ACC).
Either way, thank you!