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Posted Thu, 26 May 2022 15:38:27 GMT by Ashley Gritton
Almost all my income is from foreign Dividends (in the US). If I calculate my tax without the US Dividend income I am due to pay Zero tax. If I include my US Dividend Income the UK tax due rises £3,500. This amount is less than the US IRS has already taken in Dividend Withholding Tax - so do I put the entire amount down as Foreign Tax Credit Relief? Thanks
Posted Fri, 27 May 2022 11:56:34 GMT by HMRC Admin 10
If you have paid Foreign Tax on the dividend income, claiming Foreign Tax Credit Relief will reduce your UK tax liability.
Please see helpsheet regading the subject :
Relief for Foreign Tax Paid 2022 (HS263)

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