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Posted Tue, 16 Apr 2024 13:31:11 GMT by dalesman peters
I'm a dual citizen, US/UK residing in the UK, retired and filing Self Assessment. I have a Roth IRA in the US, no stocks in the account, just cash , which gains annual interest. This is tax free interest in the states. Do i have to report this interest on my self assessment, or is it exempt under Article17/18?
Posted Tue, 23 Apr 2024 10:56:07 GMT by HMRC Admin 25
Hi dalesman,
No, Roth IRA accounts are not taxable in the UK, under the tax treaty with the USA.
You do not need to declare this pension on your tax return, however, in the interest of full disclosure, you can mention the pension in the free hand additional information box.
In this way, you are not taxed on the pension, but you are confirming you receive the pension.
Thank you. 
Posted Sat, 27 Apr 2024 13:18:53 GMT by dalesman peters
Thank you, that helps. A little confused on the classification of the ROTH IRA though, it's classed as a savings account in the states, not a pension. I don't receive a"pension" from the account, the cash in the account accrues interest and stays in the account along with the balance, until i choose to withdraw it. Does it still mean that it is classed as a pension by the HMRC? Thank you again
Posted Thu, 02 May 2024 10:23:11 GMT by HMRC Admin 25
Hi dalesman peters,
Payments made into a Roth IRA are made before tax relief is given.
As a result, payments from this account are not taxable in the USA.
HMRC recognises this account as a pension scheme and as it is not taxable in the USA, it is not taxable in the UK either.
Thank you. 

Posted Thu, 02 May 2024 14:44:40 GMT by dalesman peters
thank you

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