SWITCH FROM ACC TO INCOME UNITS
Posted: June 22nd, 2024, 8:59 am
Hi All
Question if I may, asking for a friend. Supposing I owned Invesco - Global Equity (UK) Fund Global Equity (UK) (No Trail) Accumulation Shares,
Fund type - ICVC, Unit type Accumulation ISIN - GB00B3RS9Q62 /Sedol B3RS9Q6.
Ignore for a minute why anyone would still be owning this fund !
The holder wants to change from Accumulation Shares to Income shares in exactly the same fund - am I right in thinking this would NOT result in a disposal for CGT purposes. I have seen conflicting info all over the place but it does seem to have been answered here:
https://community.hmrc.gov.uk/customerf ... 20is%20due.
So 1. is it safe to rely on this and 2. Supposing one does swap from Acc to Inc units does one need to do anything special on the tax return ?
All answers gratefully received, thanks in advance.
Question if I may, asking for a friend. Supposing I owned Invesco - Global Equity (UK) Fund Global Equity (UK) (No Trail) Accumulation Shares,
Fund type - ICVC, Unit type Accumulation ISIN - GB00B3RS9Q62 /Sedol B3RS9Q6.
Ignore for a minute why anyone would still be owning this fund !
The holder wants to change from Accumulation Shares to Income shares in exactly the same fund - am I right in thinking this would NOT result in a disposal for CGT purposes. I have seen conflicting info all over the place but it does seem to have been answered here:
https://community.hmrc.gov.uk/customerf ... 20is%20due.
So 1. is it safe to rely on this and 2. Supposing one does swap from Acc to Inc units does one need to do anything special on the tax return ?
All answers gratefully received, thanks in advance.