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Posted Sat, 17 Jun 2023 04:14:11 GMT by
Hi I was born and brought up in india and moved here obly in 2004 I have recvd a letter from hmrc stating I have not declared my overseas income since 2017 This has been dividends paid by mutual funds However I was unaware that I have to declare this in uk as each year I was filing my returns in india and paying any taxes there as that’s what I was asked to do by Indian tax authorities Now will I get penalized by uk as it was a genuine error
Posted Wed, 21 Jun 2023 08:19:50 GMT by HMRC Admin 5

If you have failed to declare overseas investment income, failure-to-notify penalties may apply.
Full details of HMRC penalties (and how to appeal them, if you are entitled to appeal) are provided at CH70000 here:
CH70000 - Penalties for failure to notify: contents

Thank you

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