IMA Produces Free Guide To UK Tax Return For Investors

by Phillip Morton, Investors Offshore.com

12 September 2007

With just over two weeks to go before the September 30 tax return deadline for HM Revenue and Customs to calculate taxes owed, the UK's Investment Management Association has released a free guide to completing a UK tax return for investors.

The guide, 'Investment Funds and Income Tax. Completing your Tax Return. What you need to tell the Taxman 2006-2007,' helps unit trust and Open-Ended Investment Company (OEIC) investors understand what information to report to HMRC when filling in their tax return.

Complete with extracts from HMRC's 2006/2007 tax return form, this year's guide includes, for the first time, instructions on how to provide information on distributions from offshore funds.

Mona Patel, Head of Communications at IMA explained that:

"Many investors are uncertain about what to report in their tax return. This guide makes life easier by explaining what to include. A checklist helps to ensure that investors gather together all of the documentation they require to complete the form as quickly as possible."

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