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Money Market Funds and Shares/ETFs/IT
explorerm
Posts: 63 Forumite
Hello,
I’m thinking to take advantage of the £1000 dividend allowance, I have already maxed out my £20,000 ISA allowance.
I’m thinking to take advantage of the £1000 dividend allowance, I have already maxed out my £20,000 ISA allowance.
If MMFs (Royal London: CSH2) are held in a general investment account am I correct in saying that income is treated as interest? I’m already exceeding my PSA, and am a basic rate tax payer.
Would I need to report the internet received, or would the platform or fund report it to HMRC?
Would I need to report the internet received, or would the platform or fund report it to HMRC?
Secondly if I were to buy an Investment Trust (maybe City of London) or shares (maybe Legal and General) and hold it in a general investment account, I assume the dividends produced from both would count towards my £1000 dividend allowance? (Rather than towards my PSA)
if dividends received exceed the allowance, then how is it taxed ? Do you have to report it?
if dividends received exceed the allowance, then how is it taxed ? Do you have to report it?
Thank you for any advice in advance.
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