Thanks for replying. Ok, so you mean "bad" ETFs. Aren't there a few pitfalls with those, though:This ETF ......
Dimociled in the US.
30% dividend withholding tax ... can 15% be reclaimed on US ETFs using W8-BEN as for stocks?
Others here like sarenco and Brendan suggest ignoring currency risk , I bought investment trusts which are in sterling then the sterling weakened against the euro significantly and that cost me (in paper money terms significantly)...
... my core investment is in trusts but happy to make my monthly investment in individual shares ...
My head was melted with ETF's I would avoid them now altogether I don't think we have seen the end of government interference and the tax treatment is just too complicated I wouldn't be confident in been in non UCITS or UCITS , I had an irrational fear of holding individual shares , I think a decent strategy is hold a core % of your portfolio in investment trusts or even somthing that is like an investment trust eg berkishire and then hold a basket of blue chips also for regular topping up.
UK listed investment trusts that are constituted under UK law and subject to a regulatory regime most likely fall under Part 13, Irish Companies Act, and subject to gross roll-up rules for Irish residents. But non-UK registered investment companies (Guernsey registered for example, of which there are many) probably should be categorised as bad offshore funds and taxed as normal securities (income tax on dividend and CGT on gains) with loss relief.
Interestingly, there's also a register of authorized investment companies (Authorised Designated Investment Companies, Companies Act 1990 Part XIII ). There's been an argument that UK registered Investment Trusts fall under Part XIII taxation provisions but no IT's are listed in the register at http://registers.centralbank.ie/DownloadsPage.aspx
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