UK tax

Your Indian fund is probably taxed as income,
not as a gain.

If you are UK-resident and hold Indian funds

For a UK resident, the question that decides your outcome is not what the fund returned. It is whether that exact share class holds HMRC reporting fund status. Without it, your profit on sale is not a capital gain at all. It is an offshore income gain, charged to income tax at up to 45%.

Most Indian funds do not hold the status. Some do, including several GIFT City funds, and we maintain the India-exposed extract of HMRC's own list.

By Yash Jhaveri, Founder & CEO, Beyond

Beyond · JSL Wealth Management · Vadodara · ARN XXXXX
Last reviewed September 2026 · Regulatory position as at September 2026

Start here

HMRC reporting funds list: Indian fundsThe maintained extract, dated, with the method stated UK reporting fund status explainedWhat the status is, and what it costs you annually Reporting vs non-reporting fundsThe rate, the allowances and the asymmetric loss relief What counts as an offshore fundAnd why a managed account sits outside the rules

Your Indian fund is probably taxed as income,not as a gain.

Your Indian fund is probably taxed as income,
not as a gain.