spiderbill wrote:That's something I've been unclear about and really must ask my accountant to understand the specifics. Exactly how does tax work on unsheltered OEICs - both when they are rising in value and when they are falling, as has been the case recently. Was waiting to see the tax return figures on it but kicking myself that I don't already have a clear understanding.
What is there that you don't understand? CGT for OEICs is no different to any other similar investment; the gain (or loss) is the difference between the base cost and the proceeds when you sell. It doesn't matter if they're rising or falling at the time, e.g. if you bought for 10 and sold for 10 the gain is 0, irrespective of whether they were trading for 5 or 15 the day before.
As with other investments, you can take off direct costs, e.g. dealing fees, etc. The only* quirk that affects OEICs, UTs and ETFs (but not shares or ITs) is that if you buy their accumulation class you also get to take off (i.e. add to the base cost) the dividends you nominally received but didn't 'cos they were auto-reinvested into the fund.
(* for some ETFs there's also potentially excess reportable income but let's not go there in this thread/board. )