Are there any tax implications as a result of conversion?


  • HM Revenue & Customs has confirmed that conversion to the newer fund versions is not subject to CGT.
  • If your investments are not held in an ISA or a pension you might currently be liable for tax on any ‘fund manager rebates’ you receive. If this is the case, your tax liability will be reduced as a result of the conversion since the new funds pay a lower rebate, thereby reducing your tax liability. Your financial adviser will be able to discuss your tax situation with you.