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Posted Fri, 13 Oct 2023 10:02:34 GMT by
Hi, For remittance basis, if I have dividend received from a UK company but listed in another country, and the dividend is received in non UK currency, should I include that as UK income? Note that I did not remit the dividend to the UK. Many thanks.
Posted Wed, 18 Oct 2023 11:12:43 GMT by HMRC Admin 20
Hi A Wu,

As it is not paid in sterling then it is not UK income and as not remitted you should not report it.

Thank you.
Posted Thu, 19 Oct 2023 10:29:10 GMT by
Thank you. How about investment funds (investing in global stocks and bonds) domiciled and registered outside the UK, but the dividend is paid in Sterling? If not remitted, do I need to report that?
Posted Tue, 24 Oct 2023 14:31:26 GMT by HMRC Admin 32

In the UK, by default, income and Capital Gains Tax is calculated using the 'arising basis' on world-wide income and gains. Some individuals, can elect to use the remittance basis, to declare income that is not remitted to the UK and so is not included for tax calculation purposes. Unremitted income, must be declared on a Self Assessment Tax Return in the tax year that the income arises (SA109) as it will be taxable in a later tax year if remitted to the UK in that later tax year.  

Have a look at section 9 below for more information.

Residence, domicile and the remittance basis: RDR1

Thank you.

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