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Untaxed foreign interest

Muk LO
Posted Fri, 07 Apr 2023 19:24:12 GMT by Muk LO
Hi HMRC, I have untaxed foreign interest earned in bank accounts in two different countries outside the UK. The amount in each case is under the threshold of GBP 2000 but if taken together, will go beyond GBP 2000. In that case, should I report under UK interest or should I report under Foreign pages in SA 100. Grateful for your advice.
HMRC Admin 32
Posted Tue, 18 Apr 2023 10:51:26 GMT by HMRC Admin 32
Hi,

All UK and foreign interest (shown in pounds sterling) should be declared on a Self Assessment Tax Return. They will be added together and the relevant threshold for interest applied, whether £1000.00 or £500.00.  

The guidance below advises how tax on savings interest is applied.

Tax on savings interest

Thank you.

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