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Posted Sun, 29 Jan 2023 17:12:25 GMT by MobyIT
If I received bank interest below £1000 after moving into the UK within the tax year, do I need to declare this in tax return 2022?
Posted Wed, 01 Feb 2023 10:41:10 GMT by HMRC Admin 2

You will need to review your residence and domicile and whether the remittance basis applies.   

Residence, domicile and the remittance basis: RDR1

If you are resident or domiciled in the UK, you need to report the shares on your SA return.  

If you are resident, but not domiciled, you need to consider the remittance basis.  If you remit the income to the UK, it is taxable and should be recorded on your tax return.

Thank you.
Posted Tue, 07 Feb 2023 22:56:06 GMT by MobyIT
Thank you for your reply. I am a resident, non domicile and using the arising basis instead of the remittance basis. I only have the following 3 income types: Below £100 foreign untax interest Below £400 UK untax interest Below £400 foreign dividend Do I need to fill SA106 and/or SA108? plus below £500 sold shares (Scrip Dividend) is thus considered as capital gain or foreign dividend?
Posted Mon, 13 Feb 2023 15:18:42 GMT by HMRC Admin 5

Having foreign income, regardless of how much it is, is criteria for completing self assessment tax returns.  

Untaxed foreign interest of less than £2000.00 can be entered in box 3 of page TR3 in SA100.  Foreign dividends of up to £2000.00 can be put in box 6 on page TR3 of SA100.  If tax was taken off of the dividends, it can be entered in box box 7.

The disposal of share can give rise to capital gains.  The annual exempt allowance (AEA) for capital gains is £12300 in 2022/23 and £6000 in 2023/24.  

If your disposals in the whole tax year mean that your gain is below the AEA, you do not need to include in your tax return.  

Guidance on completing SA100, can be found at How to fill in your tax return (2022)

Thank you.

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