Un-wrapped OEIC and capital gains

xemeter

If I opened a trading account to invest in OEICs what are the tax liabilities?

Lokolo

Dividend or Income Tax (depending on the fund) and Capital Gains Tax.

xemeter

what would those rates ammount to?

Lokolo

Depends on your tax band.

Dividend is 10% taxed but is taxed before you get the money so you won't need to pay extra for a normal rate tax payer. 32.5% for a higher rate tax payer and Income Tax is either 20% or 40% depend on which tax band you are on.

Capital Gains is 18% or 28%, but you have a Capital Gains Allowance of £10,600 (which is based on profit).

xylophone

http://www.hmrc.gov.uk/individuals/savings-income.htm
http://www.hmrc.gov.uk/manuals/saimmanual/saim6030.htm