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Posted Wed, 29 May 2024 08:23:06 GMT by CBX500
Good morning. I am looking for some direction in the following. I have some listed USA shares which I get dividends from which are then reinvested. What I want to know is do I need to report these on my self assessment under foreign income? Barring in mind that I have not used any of my personal allowance.
Posted Mon, 03 Jun 2024 15:13:56 GMT by HMRC Admin 19
Hi,

If you reinvest them yourself, yes, you still need to declare the income.

Thank you.
Posted Tue, 04 Jun 2024 05:15:32 GMT by CBX500
Thank you for your reply, When you say reinvested by " my self" would this include share dividend on shares that I opted to have reinvested rather than taking the dividend in cash . Thanks.
Posted Thu, 06 Jun 2024 09:48:55 GMT by HMRC Admin 25
Hi CBX500,
The shares pay out a dividend to you, which you need to declare in the tax return.
What you do with the dividend is not relevant, whether that is re-investing the dividend in more shares, placing in a savings account or something else entirely.
Thank you. 


 

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