IHTM18023 - PC&S share checks: unit trusts

The primary checks are as described for the listed shares (IHTM18022).

If the unit trusts are held by a fund manager and no supporting documents are provided, PC&S will flag “fund manager’s letter”. PC&S also cannot obtain values of unit trust x-dividends and will flag this for your attention.

• You can accept the values as shown on a fund manager’s letter or other professional documentary evidence of the value.
• If this is not provided, you will need to ask the taxpayer to provide a copy of a letter from the fund manager to evidence the value of the investment together with any interest or dividends.

The valuation instructions (IHTM18095) explain how the values are calculated.