In November last year, we sent letters and an accompanying factsheet to around 6,000 customers and their agents advising them how to declare income received from Offshore Investment Funds. We’ve now received feedback from CIOT (Chartered Institute of Taxation) stating that there was a technical error in the factsheet.
I’d like to take this opportunity to apologise for our mistake and to confirm the correct information. Both investments in reporting and non-reporting funds can be held within an ISA. Please see our detailed guidance for further information.
I also want to highlight that if customers need to amend their SA return as a result of this error, further guidance can be found on GOV.UK.
