dijeah
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Clarification of the Arising basis
The 'Tax if you’re non-domiciled' section in the link 'https://www.gov.uk/tax-foreign-income/non-domiciled-residents' where the income is less than £2000 is related to arising basis/remittance basis? -
FTCR for foreign capital gains
I have Capital gains from non-reporting mutual funds in India, for which I already paid tax in India. How do I apply for tax credit on the online self assessment? I entered the Capital gains in the box - 'Other overseas income and gains' section in the box 'Gains on disposals of holdings in offshore funds (excluding the amounts entered in 'Taxable amount' box for 'All other income received by a person abroad and any remitted 'ring fenced' foreign income') and discretionary income from non-resident trusts. Enter the amount of the gain or payment: (optional)' However, when I enter the tax I paid on this in the box 'Tax treated as paid: (optional)', I get an error saying 'The amount entered for 'Tax treated as paid' must be less than the amount entered for 'Gains on foreign life insurance policies etc'. Please amend.' If I relate this to the SA106 form, I am using the boxes 41 and 45. But it looks like 45 is related to 43. So I am lost on how to claim tax relief on this which is 15%. Please help. -
Foreign income for Non-domiciled
Hello, I am non-domiciled, paying tax on arising basis, and not transferred any foreign income to the UK. I read from the link (reference- https://www.gov.uk/tax-foreign-income/non-domiciled-residents) that if being a UK resident I am non-domiciled, then I do not have to report the foreign income if it's under £2000 and not brought to the UK. I have the following questions: 1) However, if we did report it in the previous tax year and need the refund of the tax we paid on it, where on the current year's online Self Assessment do I declare this? 2) If my foreign rental income is below £2000 and my foreign capital gain is also below £2000, do I have to show this in the self assessment if the total foreign income from these both is above £2000? If yes, then for each of these two categories, do I enter the total foreign income in excess of £2000 in the self assessment, OR the entire total foreign income? -
RE: Reporting UK savings interest
The link you shared does not mention whether we need to report the interest in Self Assessment if its within the PSA limit. Also, the link you shared mentions - "You can claim through your Self-Assessment Tax Return if you complete one." Which section of column of Self Assessment should I use for this? -
RE: Finance charge and property tax paid abroad
Hello, adding onto your response to aaron123 , If the accountant fees is for everything - incl. foreign rental income, foreign capital gains, and foreign interest income, then do I claim it? -
RE: Foreign tax on property abroad
Thanks. And this land tax being a property expense, I cannot claim separately if I am opting for the £1000 allowance. Is my understanding right? -
Reporting UK savings interest
If my total savings interest from the UK bank is less than my Personal Savings Allowance, then do I need to report it in the Self Assessment? -
Foreign tax on property abroad
I have a property in India from which I get rental income. While filing the self assessment, for the "Income from land and property abroad (Property 1 of 1)" section, what value is expected in the box - "Foreign tax taken off or paid: (optional) - Foreign Income 39"? It says "Enter the amount of any foreign tax paid on the let income." Is this the total tax on the rental income in India without the land tax or with the land tax?