If a tax return is needed for foreign income less than allowance

Hi, I'm a UK Tax resident and domiciled in the UK. I tried to check if I need to send a tax return by checking through the below pages but I'm still unsure. https://www.gov.uk/self-assessment-tax-returns/who-must-send-a-tax-return https://www.gov.uk/check-if-you-need-tax-return For tax year 2022/23, I earned wages in UK. Not self-employed. Income Tax Band is Basic rate. I got less than £700 interest from foreign bank accounts. I made a gain less than £300 from selling foreign stocks. Basic rate Personal Savings Allowance (PSA): £1000 [https://www.gov.uk/apply-tax-free-interest-on-savings] CGT annual exempt amount (AEA): £6,150 [https://www.gov.uk/guidance/capital-gains-tax-rates-and-allowances] According to the captioned links, for my case, the foreign banking interest and capital gain should be less than the tax allowance for the tax year 2022/23. I think I don't need to pay UK tax for such foreign income. Do I need to submit the self-assessment tax return for the above-mentioned foreign income? Thanks.

Hi,

As you are in  receipt of forign income from bank accounts and foreign stock, you meet the criteria for completing a Self Assessment Tax Return. When it comes to Self Assessment Tax Return, there is no minimum limit for overseas income / gains.

You can register for self assessment at:

Check how to register for Self Assessment

Thank you.

Hi, 1) Just double confirm. Even I don't need to pay any UK tax for foreign income, I still need to submit Self-Assessment Tax Return? 2) If yes, then I missed to submit the tax return for tax year 2021/22. I arrived the UK in August 2021. I thought I didn't need to submit the tax return because I didn't need to pay UK tax for foreign income. What should I do? 3) I registered for Self Assessment on 30 September 2023. I haven't received anything from HMRC yet, incl., UTR. How can I check the status and progress? Any contact points, preferably email address? Thank You.

Hi L,
No matter how much or little your overseas income / gains are, you must declare them in a Self Assessment tax return, even if you do not have to pay UK tax on the overseas income / gains.
If yu are UK resident for less than 16 years, but not Uk domiciled, you may qualify for 'Exemption for small amounts of foreign income'.
Have a look at section 9 of Exemption for small amounts of foreign income, to see if you meet the criteria.
If you need to complete a tax return, you can download a paper version, including supplementary pages at:
Self Assessment tax return forms
Alternatively, if you are able to register for a person tax account, you will be able to complete your tax return online.
Personal tax account: sign in or set up
Thank you. 

Hello, I'm a UK Tax resident and domiciled in the UK. I have some questions regarding my tax situation: 1. I earned wages in the UK, and my Income Tax Band is Basic rate. 2. I received about £600 in interest from a foreign bank account due to investments in Italian Treasury Bonds. I understand that the Basic rate Personal Savings Allowance (PSA) is £1,000. My questions are: - Does the £600 foreign interest the count towards the PSA? - Do I need to file a self-assessment tax return for this foreign income, even if it's less than £2,000? Thank you for your help. Lili

Hi,

Foreign interest is declared in pounds sterling and is added to your UK interest for tax purposes. Both then count towards your PSA. Foreign income, no matter how little, must be declared in a Self Assesment Tax Return, even if no tax is payable.

Thank you.

Dear Sir, which section of SA100 I should declare my foreign income in Self Assessment Tax Return? thanks.

Hi Lisa,
Foreign income is declared on a supplementary page SA106.  
You can download it from Self Assessment tax return forms.
Thank you.

Hi, I’m sorry but your colleagues on Twitter just said the opposite: “ You will need to total up the interest received. If it's less than the Personal Savings allowance, it doesn't need to be declared.” I would be grateful if you could confirm whether or not I need to fill in a SA tax form. Thanks!

Hi lilly90,
If you have foreign income, other then dividends, you still need to complete a tax return to show this irrespective of the amount received.
Tax on foreign income
Thank you. 

Hi, I am completing a tax return for foreign income and applying for tax relief for the tax paid on Italian gilts that were taxed in Italy. I am asked to select the % of foreign tax credit relief, but the maximum foreign tax credit relief I can select is 25%. I would be grateful if you could let me know why I cannot ask for relief of the full amount? Thanks!

Hi lilly90,
Foreign gilts are taxed as foreign interest.
In the foreign section, tick 'yes' to "If you received any foreign income, do you need to complete the foreign section" and 'no' to "Do you wish to claim Foreign Tax Credit Relief on Capital Gains".
In 4- fill in your return, click on the foreign header and tick 'yes' to "Interest and other income from overseas savings".
This will allow you to declare your gilts and claim a foreign tax credit of up to 100% of the foreign tax paid.
You should ensure that all of your world-wide income is included on the tax return before attempting to calculate the foreign tax credit.
Alternatively, you can request that HMRC calculate this for you, provided you submit your tax return on time.
Thank you. 

Hello HMRC Admin 25, Thanks, I would be grateful if you could clarify in which section of the tax return I can claim the 'foreign tax credit of up to 100% of the foreign tax paid'? Thank you.

Hi lilly90,
If filing by paper, this is SA106.
If filing online, you need to tailor your return to say yes to having foreign income and this then allows Foreign Tax Credit Relief to be claimed.
Thank you.