Bed and ISA - Accumulation Units

DoctorStrange

I maxed out my ISA allowance last year and have saved £20k in a GIA, which I want to transfer to the ISA on April 6th.

I've bought three tranches of MyMap 5 (MYRURA) (I.e. £10k + £5k +£5k) and have have made a small profit of around 6% so well under the CGT limit. 

However, I believe I need to separate this gain into capital and income elements, with dividend tax due on the income side. However, I'm not sure how to do the calcs and the provider (Halifax SDL) hasn't provided any statements or anything. 

If they don't send me any breakdown statements, do I assume zero income? 

Also,  what would happen if they do send a statement after April 6 - would that income then count towards next year's figures even though the holding was sold prior?

I think going forward I'll buy Income Units outside the ISA- I thought that seemed an unnecessary hassle/cost but Acc Units seem even worse,  so hoping someone can help explain how to ensure I'm paying the right tax

Thanks!

(p.s. the £2k 0% band has been used up and I need do an SA regardless of this).

[Deleted User]

Hi,

you should get a statement into new tax year, any income earned tax year 21/22 should be declared by deadline 31st Jan 2023.

DoctorStrange

Is there no way to work it out before the tax year-end?

I'm a director of a limited company as well as an employee of an unconnected firm and will be paying a dividend. I wanted to make that dividend "£50k minus all other income" to avoid the 32.5% rate. 

I could build in a buffer I suppose but seems messy - I prefer to work with real values rather than guesses.

[Deleted User]

Hi,

if you log into your Halifax account you should get details there, also, have a look HERE, and hit the Dividends tab.

Though, as already said, you have until 31st Jan 23 to submit your 21/22 return, so should have details by then.

Have a read through THIS.

DoctorStrange

Thanks

Your link suggests a payment was made in October so when should I expect to see the details on the HSDL site? As I said, there's nothing there currently.

Also,  that link suggests the next ex-div date is 30 March. I'll still be holding the Acc units on that date but will have sold before the pay date.  How does that work for Acc units? Will the equivalent div amount be included in the Acc price immediately or will the price only be adjusted on payment date?


I understand the Jan 2022 deadline but that's when to pay, I'm trying to work out how much dividend to pay myself from my company to keep that dividend below the higher rate. 

[Deleted User]

Hi,

here's a THREAD you might find interesting.