I have a question regarding the need for self-assessment where foreign income is taxed exclusively by another country under a DTA.
For example, with regards to income from a German Kommanditgesellschaft (KG). Under Article 7(1) of the DTA with Germany, I understand that business profits (which this would presumably be - correct me if this is wrong) are only taxable in the state in which the enterprise is based, i.e., in Germany in this case.
From the DTA, the self-assessment registration form (which refers to "TAXABLE foreign income") and HMRC Guidance SA263, I understand that because the DTA gives exclusive taxing rights to another country, no self-assessment is required. Please could you confirm that this is correct?