Rabodirect funds taxation

[jp627]

Hello,

Is there a form similar to RTSO1 that we need to fill in upon selling our Rabodirect funds and making a gain? I know that we need to file a tax return, but I wonder if we need to calculate and pay our tax liability within 30 days, just like with the sale of share options.

Thanks,

 

[ClubMan]

Anything useful here?

RaboDirect funds and tax obligations?

I think the issue has also been discussed a few more times in other threas including feeback directly from Rabo (user RaboDirect) so perhaps a browse/search of the Savings & Investments forum will help?

 

[Sarsfield]

I finally plucked up the courage to take a look at the Form 11.

Please someone tell me I don't need to fill in one of those when I sell Rabo units! It looks like a right headache!

 

[RaboDirect]

Sarsfield, the good news is that we will be providing a Tax Aid to our investment fund customers by October. We will provide a statement that shows the profit made on all sales of units which you can then use to complete your tax return. We will also provide instruction on which part of the Revenue form you need to complete and how to do this. This should make life a lot easier.

 

[jp627]

This is great news, many thanks for taking your customers' feedback on board

Anyway, my pressing question still stands: I have recently sold a fund and made a gain, do I need to pay the tax liability straight away through a particular form? Or is this done through form 11 within next year's deadline for filing 2007 tax (i.e. 31st of October 2008?)

Sorry for insisting, but the revenue site is a pain to navigate and I haven't found a single explanation on the web regarding the forms we should use and which particular deadlines we should work against.

Thanks.

 

[RaboDirect]

Form 11 is the one to use and you don't need to use it straightaway. Don't worry, when the time comes to complete it we'll provide our customers with all the info they need.

 

[smiley]

Can anyone explain why Revenue cannot put an 'offshore funds' section on form 12???

I am a full time paye worker and i also have to go through the farce of filling in a form 11, which for me is pure daft as they have all my details on their systems and i also fill in dividend income etc on ROS (the section for paye workers).

Why wont revenue do this??