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Posted Thu, 16 May 2024 10:06:55 GMT by Fat Controller
I am completing my tax return for 2023-24. I have dividend income of more than £2000 from a fund domiciled in Ireland, that I receive in sterling. I also have pension payments from Bermuda, that I also receive in sterling. Both amounts are transferred to the UK. 1. I assume this all counts as foreign income? 2. If yes, then I assume I need to tailor my self-assessment to include foreign income? 3. When I then go to Foreign income details (Page 1 of 2) and answer the question "Were you unable to transfer some or all of your overseas income to the UK?" with "Yes - all" and type in the box details of my dividends and pensions and that no tax has been paid and press the Continue button, I receive the "Not required to complete foreign section". I have tried wording what I type in the box several ways assuming that there is some test for key words but always get the same result. There seems to be nowhere else to enter my pension and foreign dividends and thus I end up being told I am due a tax refund which I am absolutely sure is not the case 4. However, if I answer "Yes - some" then the "Foreign income details" opens up and I can answer details of my pension and dividends and my tax is then calculated properly. 5. So, are there some key words I should type in the box after I have answered "Yes - all" that will to bring up the "Foreign income details", or shall I just force the system by clicking the "Yes - some" even though it's not strictly true? Thanks for any advice
Posted Mon, 20 May 2024 14:47:18 GMT by HMRC Admin 19 Response
Hi,
  1. Yes, it does.   
  2. Yes, you do.  
  3. 3-5 You need to select no, as you were still able to transfer the funds to the UK. If it is a choice not to transfer them, you are still liable on your worldwide income if you are UK resident and domiciled. You only select yes, if the laws of the country actually stop you withdrawing the money.
Thank you.
 
Posted Mon, 20 May 2024 15:34:18 GMT by Fat Controller
Boy oh boy, I need to slap my head and make a loud Homer-style "Doh" noise. I should have worked that out for myself. Thank you!

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