Paying tax on investments

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Stavros_3
Stavros_3 Posts: 1,288 Forumite
in Cutting tax
I will be this April getting my 1st Self Assessment forms for 2008/9 after becoming part time self employed. My question is I have a 6 figure sum locked away for 5+ yrs in my investment portfolio with a Fund Manager via my IFA. Now when it comes to declaring savings (which I am aware of) do I also have to declare my investments, I receive nothing from them whilst the term of my long term investments are being held by the wealth management company?. thanks
Liquidity is when you look at your investment portfolio and **** your pants

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  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
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    You only declare actual income accrued or received from your investments.
    £705,000 raised by client groups in the past 18 mths :beer:
  • Stavros_3
    Stavros_3 Posts: 1,288 Forumite
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    Nice one, many thanks
    Liquidity is when you look at your investment portfolio and **** your pants
  • jem16
    jem16 Posts: 19,404 Forumite
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    Stavros wrote: »
    I will be this April getting my 1st Self Assessment forms for 2008/9 after becoming part time self employed. My question is I have a 6 figure sum locked away for 5+ yrs in my investment portfolio with a Fund Manager via my IFA. Now when it comes to declaring savings (which I am aware of) do I also have to declare my investments, I receive nothing from them whilst the term of my long term investments are being held by the wealth management company?. thanks

    Are your investments in income or accumulation funds? If income funds a dividend will be paid even if you reinvest the dividend. If accumulation the dividend is paid through an increase in the unit price. Either way both have to be declared on your tax return.

    With my investment portfolio I get a tax certificate for each dividend paid outwith my ISAs. Some of my funds are growth funds and have no yield.
  • Stavros_3
    Stavros_3 Posts: 1,288 Forumite
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    Hi Jem, the Funds are income funds. I don't receive the dividends as the fund manager just ploughs the dividend back into my investment portfolio. So going by what you are saying I do have to declare these dividends?
    Liquidity is when you look at your investment portfolio and **** your pants
  • jem16
    jem16 Posts: 19,404 Forumite
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    Stavros wrote: »
    Hi Jem, the Funds are income funds. I don't receive the dividends as the fund manager just ploughs the dividend back into my investment portfolio. So going by what you are saying I do have to declare these dividends?

    Yes you do assuming they are not held within a tax wrapper such as ISA or Investment Bond.

    I have unit trusts held with Fidelity arrnaged through my IFA. Each time there is a dividend payment I receive a tax certifictae from Fidelity.

    Who is your portfolio held with? Either ask them for the certificates or ask your IFA to get them as you will need to declare them.
  • dunstonh
    dunstonh Posts: 116,594 Forumite
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    What tax wrapper are the investments held in?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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