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Posted Mon, 23 Jan 2023 20:32:11 GMT by Raj
Hi, I need to disclose savings interest received in accounts in Indian bank for previous years. Interest Certificate shows 32% tax was deducted in India. Worldwide disclosure form has only one field for 'Income/Gain/IHT'. So what should be filled there ? e.g. could anyone confirm this calculation is correct ? Interest Received = £2000 Tax paid overseas@32% = £640. Personal Savings Allowance = £500 Net Taxable Interest = 1500 Tax@40%on £1500 = £600 What should be submitted in worldwide disclosure for this scenario ? as according to calculation no tax is due in UK Regards Raj
Posted Thu, 26 Jan 2023 14:31:35 GMT by HMRC Admin 2

Please contact the Offshore Disclosure Facility for advice.

Offshore Disclosure Facility

Thank you.

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