Reporting Gains on US Mutual Funds

Hi-
Need advice on which HMRC form(s) to use:

Sold two US-based mutual funds last year, each having about £1k of gains; the assets were worth less than £44k. One was a Reporting Fund and the other "distributes substantially all of its income and capital gains to its shareholders ever year." The gains are less than the annual CG Exemption.

If reporting is required, should it be via SA108, "Capital gains summary", as "...other assets and gains" (Boxes 30-33)? Is detail required?  OR

Should it be via SA106, "Foreign", "Gains on disposals of holdings in offshore funds..." (Box 41)? Is detail required?

Then, how should I answer Question 7 on SA100 re:Computation(s)?

Thanking you in advance for any guidance.

Unlike the IRS HMRC answer the phone. I'd ask HMRC how these should be reported to them.

The first matter to clarify relates to the mutual fund which says it distributes its income. A non UK based fund is within the offshore income rules unless it is a reporting fund. It is not sufficient that in fact it does not roll up its income. There is a list on HMRC’s website of reporting funds https://www.gov.uk/government/publications/offshore-funds-list-of-reporting-funds

The forms needed follow the above clarification-
-   If the fund is not reporting, the income gain goes on SA106 Box 41.
-   If the fund is reporting, then both gains are within capital gains tax but taken together are below the requirements for inclusion in the self-assessment. There is nothing reportable.

Thank you Dunedin. Does the entry on SA106, Box 41 need detail?

In response to Taxi’s question about reporting offshore income gains, the self-assessment return only asks for the amount of any gain. The following is a link to HMRC’s notes on SA106; see page 11. https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/420047/sa106-notes-2015.pdf
HMRC can of course enquire into the self-assessment and ask for the underlying details.