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UK Investment Bond |
Offshore Investment Bond |
Investment Trust |
Unit Trust |
OEIC |
ISA |
Personal Pension |
[Taxation of:] |
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UK Dividends |
Received net of 10% tax credit. No further tax payable |
Received net of 10% tax credit. No further tax payable |
Received net of 10% tax credit. No further tax payable |
Received net of 10% tax credit. No further tax payable |
Received net of 10% tax credit. No further tax payable |
Received net of 10% tax credit. No further tax payable. Tax credit no longer reclaimable |
Received net of 10% tax credit. No further tax payable. Tax credit no longer reclaimable |
Non-UK Dividends |
Usually received net of local withholding taxes. Corporation Tax payable at 20% on grossed up dividend. Some credit may be given for tax already paid if double taxation agreement in place. |
Usually received net of local withholding taxes. No further tax payable |
Usually received net of local withholding taxes. Corporation Tax payable of up to 30% on grossed up dividend. Some credit may be given for tax already paid if double taxation agreement in place. (1) |
Usually received net of local withholding taxes. Corporation Tax payable at 20% on grossed up dividend. Some credit may be given for tax already paid if double taxation agreement in place. |
Usually received net of local withholding taxes. Corporation Tax payable at 20% on grossed up dividend. Some credit may be given for tax already paid if double taxation agreement in place. |
Usually received net of local withholding taxes. No further tax payable. No reclaim allowed. |
Usually received net of local withholding taxes. No further tax payable |
Other Income |
Corporation Tax payable at 20% on interest and Bond income, and 22% otherwise |
No tax payable |
Corporation tax payable at up to 30% (1) |
Corporation tax payable at 20% |
Corporation tax payable at 20% |
No tax payable. Reclaim permitted where tax deduced at source on UK income. |
No tax payable |
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Capital Gains |
Can be reduced using indexation allowance |
No tax payable (usually) |
No tax payable |
No tax payable |
No tax payable |
No tax payable |
No tax payable |
Tax payable in directly held assets |
Corporation Tax payable at 20% on gains |
No tax payable (usually) |
No tax payable |
No tax payable |
No tax payable |
No tax payable |
No tax payable |
Tax payable where assets are held in other collective investment schemes |
Deemed annual disposal of assets but gain / loss spread over
seven year period. |
No tax payable (usually) |
No tax payable |
No tax payable |
No tax payable |
No tax payable |
No tax payable |
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Personal Tax liabilities
applicable to holders of these investments |
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UK Investment Bond |
Offshore Investment Bond |
Investment Trust |
Unit Trust |
OEIC |
ISA |
Personal Pension |
Income Tax |
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Nil Tax-Payer |
No income tax payable, as long as the 'top-sliced'
gain does not push the investor into the higher-rate tax band. |
No tax payable, as long as gain does not push the
taxpayer into any tax bands. |
No tax payable on dividends. No refund of tax credit. |
No tax payable on dividends. No refund of tax credit.
Possible tax refund if the UT pays interest (from cash and bonds funds), not
dividends |
No tax payable on dividends. No refund of tax credit.
Possible tax refund if the OEIC pays interest (from cash and bonds funds),
not dividends |
No tax payable on dividends or interest payments. No
refund of tax credit. |
25% of fund can be taken tax-free at retirement age.
No further tax on income secured from the residual pension funds. |
20% Tax-Payer |
No income tax payable, as long as the 'top-sliced'
gain does not push the investor into the higher-rate tax band. |
Gain taxable at 20% |
No tax payable on dividends. |
No tax payable on dividends. No refund of tax credit.
No further tax to pay if the UT pays interest (from cash and bonds funds),
not dividends |
No tax payable on dividends. No refund of tax credit.
No further tax to pay if the OEIC pays interest (from cash and bonds funds),
not dividends |
No tax payable on dividends or interest payments. |
25% of fund can be taken tax-free at retirement age.
20% Income Tax on income secured from the residual pension funds. |
40% Tax-Payer |
Gain assessed at 20% (40% less 20% tax taken within
the fund). Where a gain pushes a basic-rate taxpayer into the higher band,
the rate will be pro-rated between 0% and 20% |
Gain taxable at 40% |
The grossed up dividend is assessed at the special
higher rate at 32.5%, with a 10% tax-credit |
The grossed up dividend is assessed at the special
higher rate at 32.5%, with a 10% tax-credit. Interest payments (from cash and
bond funds) are assessed at 40%, with a 20% tax credit. |
The grossed up dividend is assessed at the special
higher rate at 32.5%, with a 10% tax-credit. Interest payments (from cash and
bond funds) are assessed at 40%, with a 20% tax credit. |
No tax payable on dividends or interest payments. |
25% of fund can be taken tax-free at retirement age. Up to
40% Income Tax on income secured from the residual pension funds. |
45% Tax-Payer |
Gain assessed at 25% (45% less 20% tax taken within
the fund). Where a gain pushes a basic-rate taxpayer into the additional rate band,
the rate will be pro-rated between 0% and 30% |
Gain taxable at 45% |
The grossed up dividend is assessed at the special
higher rate at 42.5%, with a 10% tax-credit |
The grossed up dividend is assessed at the special
higher rate at 42.5%, with a 10% tax-credit. Interest payments (from cash and
bond funds) are assessed at 45%, with a 20% tax credit. |
The grossed up dividend is assessed at the special
higher rate at 42.5%, with a 10% tax-credit. Interest payments (from cash and
bond funds) are assessed at 45%, with a 20% tax credit. |
No tax payable on dividends or interest payments. |
25% of fund can be taken tax-free at retirement age. Up to 45% Income Tax on income secured from the residual pension funds. |
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