Indian Mutual Funds & UK Taxation – A Little Known Problem!

Posted On: 30 Nov 2021

A common question our Tax Investigations & Disputes team are regularly asked: how are clients’ Indian mutual fund investments taxed in the UK?

The mutual fund industry in India is sizeable and this has resulted in exponential interest from investors around the world. As a result the funds industry in India and internationally is booming. But with HMRC’s offshore reporting funds list not featuring a single Indian fund, it has left many advisers struggling to identify the type of product their clients have for UK tax purposes.

Size of the market

As of the 30th September 2021, the total number of Indian Mutual Fund Accounts stood at a huge 111.7m! With the assets under management (AUM) having increased to the equivalent of around £350bn by the same time.

Learn More

Here in his latest article for Taxation Magazine, our own Amit Puri, who leads our Tax Investigations & Disputes team, takes an in-depth look at the issue. Amit shares his own knowledge and experiences from dealing with different types of offshore funds to provide this insightful article which is a must read for anyone involved with offshore or mutual funds.

Read the full article here