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Posted Wed, 01 May 2024 10:52:18 GMT by FP W
Hi, I am working as a self-employed for UK companies and a foreign company. The foreign company pay me to my foreign bank account (no tax paid in the foreign country). When I report my tax returns, should I just put the income lump sum in my 'Self-employment' section, but declare the foreign income separately in the 'foreign income' section? Thanks
Posted Thu, 09 May 2024 09:53:35 GMT by HMRC Admin 25 Response
Hi FP W,
You will need to convert the foreign income into pounds sterling.
As no tax is foreign deducted, you would declare this in the self employment section.
If the turnover from the UK companies and the foreing company are for the same trade, you can declare the whole turnover under the same trade.
If if is a different trade, you would need to declare a second trade on your tax return and report it there.
Thank you. 


 

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