Taxes in Dividend and Interest rates, Unit Trusts

fcmisc

I am calculating the capital gains on some accumulation unit trusts.

From what I know I can deduct the dividend and interest income from the profit of unit trust sales, when calculating my capital gains.

My tax statement shows different columns for income...

Gross, Tax Credit, Income Tax, Equalisation, Net Dividemd/Interest.

Which columns do I use to deduct from my capital gains calculations?

masonic

You should deduct equalisation as this is a return of capital and doesn't represent a capital gain or income.

The net dividend/interest is what has actually been reinvested and that is the correct income figure to deduct.

fcmisc

Thanks for replying, but I'm not sure I fully understand. Do I deduct the equalisation, net dividend/interest, or both?

masonic

fcmisc wrote: »

Thanks for replying, but I'm not sure I fully understand. Do I deduct the equalisation, net dividend/interest, or both?

Both .

fcmisc

Found this that talks about it too.

https://www.oldmutualwealth.co.uk/globalassets/documents/literature-library/platform/collective-retirement-account/omw_pdf6600_a_guide_to_your_tax_voucher.pdf