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Posted Thu, 12 Oct 2023 17:45:00 GMT by sb3502
I am just completing SA and have said no to receiving any foreign income (true). A warning comes up "HMRC receives data from foreign jurisdictions and that data tells us about taxpayers who have income or assets outside the UK. Please make sure all the information you provide in this return is accurate." and it says "Please check the entry below". As far as I can tell (after lots of reading), I only need to declare any foreign income and capital gains. I'm slightly concerned however because there is, what seems to be, considerable misinformation around the Web concerning the need to declare foreign "accounts" and "assets". I think this is just sloppy writing, but wanted to check as we do have a foreign bank account and did have a another one previously. Neither have received any income at any point however. Can you please confirm that my understanding is correct (or not)? Ideally, it would be helpful if you could shed light on why I may have received the warning. I'm guessing it could be because of the existence of the account despite their being no income. Thanks, S
Posted Tue, 17 Oct 2023 12:51:43 GMT by HMRC Admin 8
Hi,
You are correct in stating that when completing your Self Assessment tax return, you are only required to declare any foreign income or capital gains. If you have an overseas bank account that generates no interest. no reference to that bank account should be made in your tax return..  
Any 'warnings' that appear are simply designed to remind customers that an entry may be required.
Thank you.

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