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Posted Sat, 22 Oct 2022 22:45:24 GMT by Cloud Cloud
Hi, I am an insurance agent on commission basis. I am receiving limited amount of commission from an oversea insurance company for clients' insurance policy auto-renewal only - the commission is deposited in my oversea bank account monthly. How can I report these oversea foreign income in self assessment? I am not allowed to sell any new policy to my client while I am in UK, per the insurance company law. Thanks!
Posted Wed, 26 Oct 2022 13:48:22 GMT by HMRC Admin 19
Hi,

If you are self-employed, then the commisions would be added to your turnover.

If you have paid tax on this in another country, you can claim tax relief on SA106 foreign pages.

Thank you.

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