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Posted Tue, 19 Mar 2024 20:41:27 GMT by valmiki
Hello I am after some quick advice I have UK bank interest, some foreign bank interest and small amount of sole trader income for the current (23/24) tax year. The total of all 3 will be below the personal tax allowance. With regard to the foreign bank interest, tax was paid at source. I understand I have to complete a SA could you advise where I enter the figures for the foreign bank interest. Also, do I enter gross or net interest received, and can I claim back the tax on this? Many thanks
Posted Mon, 25 Mar 2024 10:48:18 GMT by HMRC Admin 32
Hi,

You enter the gross amount received under foreign income. foreign tax credit relief can apply if UK tax is also due on the same source.

Relief for foreign tax paid (Self Assessment helpsheet HS263)

Thank you.

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