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Posted Tue, 12 Dec 2023 15:42:26 GMT by HMRC Admin 5
Hi taxpayer12345678

Please refer to Article 10 of the treaty - UK/HUNGARY DOUBLE TAXATION CONVENTION
You can use a total from any of the spot rates for the tax year - please see Exchange rates from HMRC in CSV and XML format

Thank you
Posted Wed, 13 Dec 2023 10:20:23 GMT by HMRC Admin 25
Hi UKask L,
Royalties / free lance work, fall under the heading for self employment and should be included in SA103.
If foreign tax was payable on the profits / royalties, then this is also declared on SA106 in the section "Foreign tax paid on employment, self-employment and other income" and a foreign tax credit is claimed.
Thank you. 
 
Posted Wed, 13 Dec 2023 15:19:22 GMT by HMRC Admin 19
Hi bbjess,

The Hong Kong MPF is not taxable in the UK under the terms of the double taxation treaty and does not need to be declared.

Thank you.
Posted Thu, 14 Dec 2023 02:05:58 GMT by
Hi, I arrived in the UK in October 2022 with BNO visa and I am a housewife with no local income. As far as I understand, I do not have to fill in the tax return if my dividends (Hong Kong bank saving account interests) are less than £2000. Besides the dividends of less than £2000, I have no more local and foreign income except the living allowance my husband in Hong Kong gives me through online banking every month. In this case, do I have to fill in the Self Assessment tax return? Are those living allowances taxable? Thank you.
Posted Thu, 14 Dec 2023 11:55:04 GMT by HMRC Admin 5
Hi Jacob Hepworth-Wain

Foreign Tax Credit Relief is only applicable if UK tax is due on the same source. As you have stated your income is less than £12k this will be covered by your personal allowances and no UK tax will be due.
You therefore will not be able to claim Foreign Tax Credit Relief.

Thank you.
Posted Thu, 14 Dec 2023 17:40:34 GMT by
Hello Admin, I am a Non domiciled UK tax resident for FY 2023-24 and an Indian citizen. I have freelance/consulting foreign income in India and salaried income in UK. For the foreign income, I have already paid tax deducted at source on monthly payouts and will be filling tax as Non residential Indian. The income is more than GBP 2000 for the year while it has not been remitted to UK. How do I go about filing the tax in UK? Do I need to declare this income with HMRC and if yes how to file for tax relief on foreign tax paid? Also will this relief be 100% based on India-UK tax treaty?

[Display name amended - Admin]
Posted Fri, 15 Dec 2023 00:56:40 GMT by Pongo
Hello Admin, I’m coming from Hong Kong by BNO visa since 2021 with my partner and my children. For the tax year 2022-23, I have employed for a part time job in the UK, my employer submitted my income by PAYE. The total income from this job is less than £5000. 1. My parents in Hong Kong gave me less than £500 as gift money for my children , they transferred to my overseas account in Hong Kong. 2. I checked the online banking of my overseas bank accounts in Hong Kong, I don’t keep so much money (less than £500 bank balance in total), but I found that there’s some transactions showed interest is about HKD 0.01 or less than HKD 0.1, I think these interest less than £1 during the tax year 2022-23 in total. I’d like to ask should I need to file the self assessment for these transactions. Thanks for your advice. Best Regards, Pongo S
Posted Tue, 19 Dec 2023 13:56:55 GMT by HMRC Admin 5
Hi WL

Please refer to guidance at Self Assessment tax returns

Thank you
Posted Tue, 19 Dec 2023 15:25:56 GMT by HMRC Admin 5
Hi nitnerdnot

If claiming the remittance basis please refer to 1. The remittance basis

Thank you
Posted Tue, 19 Dec 2023 15:41:44 GMT by HMRC Admin 32
Hi Pongo,

There is no need to complete a self assessment tax return to declare foriegn interest of less than £1.00.

Thank you.
Posted Sun, 24 Dec 2023 10:18:07 GMT by Pongo
Hello Admin, Thanks for your reply. My sister with BNO visa to move to the UK, She was worked the parttime job in the factory and pay tax by PAYE, She also have another job is self employed. So she filled in the Self-Assessment for her jobs income. She doesn’t have many funds in her saving bank accounts Hong Kong. She would like to ask about the foreign interest if less than £1, does it like you replied me before, there is no need to complete to declare foriegn interest of less than £1.00. In the self assessment tax return during the tax year? Thank you and Merry Christmas. Po
Posted Fri, 29 Dec 2023 23:57:49 GMT by
Hi, I understand £1 does not need self assessment tax return. But if the foreign income is less than £200 does it still have to be declared? Thank you
Posted Wed, 03 Jan 2024 10:06:15 GMT by
Dear HMRC Team, Now I have done my Self-assessment for 2022/2023 (with amendment done too), and I have ALREADY PAID the amount according to the SA302 Tax Calculation result of "Total Income Tax due" amount. But when I login via UK Goverment Gateway " Self Assessment section " I STILL SEE the message : You need to pay £X.XX by 31 January 2024. I don't understand. Why is that please?
Posted Wed, 03 Jan 2024 23:08:16 GMT by
Hi HMRC Admin Please confirm my 2 queries for self-assessment on foreign property and savings interest: 1) I have one rental property abroad and for that tax year the foreign Notice of Assessment had my Taxable Income as $0 (after allowable expenses outweighed the rental income). I need to complete a self-assessment this year for other reasons, however do I need to fill out the foreign income and enter 0 or can I just not fill this part out - as it's less than the £1000 tax free property allowance? I had read here that foreign rental income is taxed the same way as UK property rental (https://www.gov.uk/tax-foreign-income/foreign-income-thats-taxed-differently). For property that I personally own, I see the following statements: - The first £1,000 of your income from property rental is tax-free. This is your ‘property allowance’. - Contact HM Revenue and Customs (HMRC) if your income from property rental is between £1,000 and £2,500 a year. - You must report it on a Self Assessment tax return if it’s: £2,500 to £9,999 after allowable expenses £10,000 or more before allowable expenses 2) Similar question for foreign savings interest, if my foreign savings interest is less than the threshold then on the self assessment form for the question (Which of the following types of income or gain did you receive from overseas sources?): Do I tick these and enter values under the threshold or not and leave it blank? Thank you.
Posted Thu, 04 Jan 2024 10:10:56 GMT by
Hi, I've been tax resident and resident in Portugal since March 2022. I'm self employed in Porugal, do I need to submit a UK tax return? As I have no UK income, I guess I just submit a "£0" return in terms of self employed profit?
Posted Mon, 08 Jan 2024 08:56:39 GMT by HMRC Admin 19
Hi Pongo,

No, there is no need because if the amount is less then £1 it is automatically rounded down to nil.

Thank you.
Posted Mon, 08 Jan 2024 14:13:53 GMT by Pongo
Good Afternoon Admin, Thanks for your reply. My sister wants to understand a little bit more about the tax return. She completed to file her self-assessment tax return for her income from her employer (by PAYE) and her self-employed income already. About her foreign saving interest is less than £1, as you replied that because the amount of the foreign interest is less than £1, it will automatically rounded down to nil. So, there is no need to declare for her foriegn saving interest of less than £1. She wants to ask if she is understanding correct? Thank You. Pongo
Posted Tue, 09 Jan 2024 12:54:04 GMT by HMRC Admin 19
Hi Alex987,

Yes, it does.

Thank you.
Posted Wed, 10 Jan 2024 12:20:57 GMT by HMRC Admin 32
Hi UKask L,

If you have only just paid it, it wont show up yet. Please allow 5 working days for the payment to show on your statement.

Thank you.
Posted Wed, 10 Jan 2024 17:53:06 GMT by HMRC Admin 25
Hi Joe Romeo.
As you state you are already claiming expenses for the rental income you cannot then claim the trading allowance.
It is one or the other.
You therefore need to show the rental income received and then the expenses you are claiming even if this results in no profit.
The same applies to the interest, you need to declare this and if covered by the personal savings allowance, no tax will be due.
Please ensure all entries are converted to sterling.
Thank you. 

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