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Posted Fri, 14 Mar 2025 12:43:48 GMT by Alec S Luhn
I'm an American citizen and tax resident in the UK. US taxes are based on the calendar year. When I did my 2023-24 UK tax self assessment, I used the 2023 calendar year for my US interest, divided and capital gains income, but I used the UK tax year for my US/UK self-employment and US rental property income. Can I use the calendar year for self-employment and rental property income as well? That would greatly simplify my tax, which I have to file in both countries. Thank you.
Posted Wed, 19 Mar 2025 14:40:31 GMT by HMRC Admin 8 Response
Hi,
Yes.  For your convenience, self assessment allows you to treat your overseas income / dividends etc, arising in the overseas financial year as the equivalent income / dividends arising in a UK financial year.  
UK income and capital gains, still follow the UK financial year 6 April to the following 5 April.
Thank you.
Posted Wed, 19 Mar 2025 15:12:15 GMT by Alec S Luhn
Thank you. Just to clarify that, I can use calendar year for US real estate income, right?
Posted Fri, 21 Mar 2025 12:11:54 GMT by HMRC Admin 21 Response
Hi,
If you are not claiming foreign tax credit relief then yes.
If you are, please refer to:
 INTM161220 - UK residents with foreign income or gains: double taxation relief: Foreign tax and associated links.
Thank you.

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