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Posted Wed, 22 Nov 2023 18:43:59 GMT by Emma Hollis
I have a foreign investment fund in Australia and am a tax resident in both the UK and Australia. I am completing the Self Assessment in the UK and am unsure how to report this foreign income in Section 4 (Foreign income details). According to my investment fund tax statement, for the months July 2022-June 2023 my Australian income consisted of: 1) Interest and interest not subject to non-resident withholding tax, 2) Dividends unfranked, 3) Dividends -conduit foreign income, 4) Other income, 5) Non-primary production income, 6) Dividends franked, 7) Dividends distributions from trusts. For the months July 2021-June 2022 my Australian income consisted of: 1) Interest and interest not subject to non-resident, 2) Dividends unfranked, 3) Dividends -conduit foreign income, 4) Other income, 5) Non-primary production income, 6) Dividends franked, 7) Franked distributions from trusts. 8) Capital gains 9) Discounted capital gains (TAP) and (NTAP) and (other), 10) Foreign income I have two questions: 1) Which 'types of income or gains' do I select on my self assessment form? 2) The months for the Australian investment account statement don't line up with the UK tax year. For the year July 2022-June 2023, how do I work out this monthly so I am not reporting the months may& june, as the UK tax year only goes to april? Hopefully that makes sense. Thank you very much!
Posted Thu, 23 Nov 2023 16:41:10 GMT by HMRC Admin 10 Response
Hi
Please treat your Australian income from July 2021 to June 2022 as your overseas income for the tax year 6 April 2022 to 5 April 2023 and July 2022 to June 2023 as your overseas income for the tax year 6 April 2023 to 5 April 2024.  
In this way the last day of the Australian tax year falls within the UK tax year and both periods cover 12 month financial year.  
All entries on SA106 must be in pounds sterling.
Posted Sun, 26 Nov 2023 08:16:09 GMT by Emma Hollis
Thank you! And what 'types of income or gains' should I select on the form? e.g. dividends, 'other income' etc.
Posted Tue, 28 Nov 2023 13:11:55 GMT by HMRC Admin 8 Response
Hi,
That is for you to confirm based on the actual type of income you have received.
Thank you.
Posted Wed, 29 Nov 2023 07:39:53 GMT by Emma Hollis
As posted above, my Australian tax return says: 1) Interest and interest not subject to non-resident withholding tax, 2) Dividends unfranked, 3) Dividends -conduit foreign income, 4) Other income, 5) Non-primary production income, 6) Dividends franked, 7) Dividends distributions from trusts. However I’m not sure what this “translates” to on the UK form and don’t want to get it wrong. Are you able to advise on this?
Posted Thu, 30 Nov 2023 15:08:44 GMT by HMRC Admin 25 Response
Hi Emma Hollis,
We have no way of knowing what the Australian tax return is declaring or how to declare it in a Self Assessment tax return.
You may need ot consider seeking professional advise on this matter.
Thank you. 

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