Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Residence, Domicile and Remittance Basis Manual

From
HM Revenue & Customs
Updated
, see all updates

Remittance Basis: Remittance Basis up to 6 April 2008: Mixed Funds: Overview

A mixed fund is an overseas fund of money and/or other property which contains, or consists of more than one type of income, or income and capital and gains. A typical example is a bank account into which different types of income, such as bank interest, dividends and earnings, or gains are paid.

The mixed fund rules do not apply where a taxpayer arranges that different forms of income are held in separate accounts.

Proceeds from a disposal of an asset that contain a capital gain are instantly a ‘mixed fund’ of capital and gain.