Tax Returns for NISA Accounts

[thejunman]

I realise that this is probably very late in asking but I only thought about it just now. Do we need to file a tax return for NISA accounts?

According to the website I don't need to, at least for 2021, but I just want to double-check on here. If not, what situation would I need to?

I'm guessing if I use my regular account and not my NISA account, right?

I know some people don't use tax withholding accounts. I was wondering what the benefits are of not using it?

[Teflon]

I also started my first traditional NISA account in 2021. When I asked my tax accountant about it he said there is no need to report it in my tax return. Not sure about other situations but I suspect the answer is you never need to report anything in your NISA account because it's tax exempt. If it rolls over into some other account type then you might need to report it depending on the account.

[adamu]

There are no taxes in a NISA*, so nothing to declare.

*you might have foreign dividend taxes, but you can't claim them back in a NISA as there are no Japanese taxes to offset, so still nothing to declare.

[KCLenny]

There are no taxes in a NISA*, so nothing to declare.

*you might have foreign dividend taxes, but you can't claim them back in a NISA as there are no Japanese taxes to offset, so still nothing to declare.

Just to confirm, is this the same for Tsumitate?

[Haystack]

There are no taxes in a NISA*, so nothing to declare.

*you might have foreign dividend taxes, but you can't claim them back in a NISA as there are no Japanese taxes to offset, so still nothing to declare.

Just to confirm, is this the same for Tsumitate?

Yes.