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Posted Tue, 05 Sep 2023 16:51:45 GMT by YY WONG
During registering self-assessment, there is a checkbox "I'm getting taxable foreign income of £300 or more". Please advise 1. is saving interest from a foreign bank is a kind of "taxable foreign income" ? 2. my only foreign income is saving interest, is "foreign taxable income" mean (i) the income after subtracting the personal allowance and the personal saving allowance or (ii) the total saving interest before minus the personal allowance?
Posted Thu, 07 Sep 2023 12:34:16 GMT by HMRC Admin 20

Interest from an overseas bank account is treated as foreign interest, falls under the term foreign income and is declared on SA106, along with any tax deducted.  
It is added to UK bank interest and the rules governing the taxation of interest applies to the total amount of interest.
See: Tax on savings interest

Thank you.

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