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Tax payable on Unit Trusts for non-residents?
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stoobee
Posts: 4 Newbie
in Cutting tax
I'm a UK expat living in the Netherlands and am no longer resident or ordinarily resident for tax purposes in the UK.
I would like to buy some Unit Trusts/OEICs from one of the online discount brokers in the UK (ISAs are no longer allowed for non-residents). My UK savings account now pays interest gross so I'm wondering if the same can occur for funds too? I've always bought my funds inside an ISA wrapper while I was in the UK but now I have no idea how tax is taken on funds outside an ISA.
Any info appreciated,
Stu
I would like to buy some Unit Trusts/OEICs from one of the online discount brokers in the UK (ISAs are no longer allowed for non-residents). My UK savings account now pays interest gross so I'm wondering if the same can occur for funds too? I've always bought my funds inside an ISA wrapper while I was in the UK but now I have no idea how tax is taken on funds outside an ISA.
Any info appreciated,
Stu
0
Comments
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You won't be liable to UK tax, but this will only be of benefit if the unit trusts are paying interest distributions, rather than dividend distributions - in other words if they are bond funds. The tax credit on UK divs is not reclaimable any more. You can simply register to receive interest gross, just like on a bank account.I'm an Investment Manager. Any comments I make on this board should be not be construed as advice, and are for general information purposes only.0
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Stu - Don't forget that the unit trusts/OEICs are taxable in the Netherlands even if held in an ISA wrapper...0
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