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Posted Mon, 09 Dec 2024 16:00:39 GMT by Adelie
After nearly 3 months' waiting, I have been asked to fill in the registration form for "Self Assessment and getting a tax return" (Form SA1) again because of insufficient information. To avoid further complication, I wish to seek HMRC's advice on how to put the effective date of receiving foreign income. I am a newcomer to the UK and a first-time filer of Self Assessment. I moved to the UK as a resident on 1 Feb 2023. I have a few foreign bank accounts and been receiving modest savings interest since 2020. For the tax year 2023/24, I am registering for Self Assessment because of receiving these foreign savings interest. What am I expected to fill in for the "Date started receiving taxable foreign income"? (A) The day I moved to the UK? (i.e. 1 Feb 2023) (B) The day I started receiving savings interest from the foreign bank accounts, though I was not a UK resident then? (i.e. someday in 2020) (C) The day I received the first savings interest payment in the tax year 2023/24? (i.e. someday after 6 Apr 2023) Your advice will be much appreciated.
Posted Mon, 16 Dec 2024 13:16:04 GMT by HMRC Admin 10 Response
Hi
As you arrived in the Uk on 1 February 2023, your arrival falls into the 22/23 tax year and a tax return would be required for UK and foreign income arising from that date up to 5 April 23 claiming split year treatment that is if there is any UK and foreign income between 1 Feb and 5 April 23) in a 22/23 tax return.  From 6 April 23, you would declare your worldwide income for the whole tax year of 23/24 and do this each year going forward.

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