We're talking about reporting and non-reporting funds for UK taxpayers. You might be wondering why we're doing this since we work with British expats, but the reason is simple: some people go back!
Reporting funds are a subset of “offshore”* collective investments where the fund has applied to HMRC for “reporting fund” status (all US funds & ETFs are by definition offshore funds to HMRC). Once this status is granted, the fund is required to report to the investor and HMRC details of the income that has arisen within the fund, and whether or not the income has been distributed to the investor.
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Plan First Wealth LLC is a Registered Investment Adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that Clients seek their own advice in these areas.
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