For immediate release: Tuesday 6th May 2003

COMPLETING YOUR TAX RETURN – UNIT TRUSTS AND TAX

A free fact sheet from the Investment Management Association

A free fact sheet produced by the IMA clearly explains the information that unit trust and OEIC investors are required to report to the Inland Revenue on their 2002-2003 Tax Returns.

Many investors incur penalties due to late submission of their returns claiming they are too difficult to complete.  ‘Unit trusts and Tax – Completing your tax return’ aims to make completion easier for investors by outlining the information required for declaring distributions in a concise manner, using examples of both interest and dividend vouchers along with the appropriate sections of the actual return.

The fact sheet answers some of the most frequently asked questions and has a helpful checklist to ensure that investors have the relevant information to hand when completing their return.

Clare Arber, Head of Communications at the IMA commented:

“Completing a tax return can cause confusion to those with even the simplest of investments. To make the process easier, the IMA fact sheet (updated for the 2002-2003 Tax Return) uses simple diagrams and examples to guide investors through the daunting task of what they need to tell the taxman.”

ENDS

For further information, please contact:

Helen Stephenson, Communications Officer, IMA, 020 7831 0898

Selina Staines, Communications Co-ordinator, IMA, 020 7831 0898

65 Kingsway London WC2B 6TD 

Tel: +44 (0) 20 7831 0898 Fax:+44 (0) 20 7831 9975 

www.investmentuk.org 

Investment Management Association is a company limited by guarantee registered in England and Wales Registered number 4343737.  Registered office as above.