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Posted Wed, 21 Sep 2022 15:57:27 GMT by Daveeee
I hold some units of an Irish UCITS with UK reporting status . I've been advised by the fund provider than I need to add the excess reportable Income to my self assessment tax return. Please can you advise where I should enter this information in the online tax return? Many thanks

[Personal information removed - Admin] 

Posted Fri, 23 Sep 2022 10:08:42 GMT by HMRC Admin 19

This should be declared in the capital gain section of the tax return.

Thank you.
Posted Wed, 28 Dec 2022 10:06:14 GMT by Darrell Barnes
I too am in a similar situation to that of Daveeee. The note on HMRC Foreign notes page FN7 "Dividends from foreign companies" states that "excess ‘reportable income’ from reporting offshore funds" must be included in Columns A to F of the Foreign pages of the tax return; but your reply to Daveeee says that this income "should be declared in the capital gain section of the tax return." Which of these pieces of advice is correct? If, as you assert, the income is declared in the Capital Gains section, is this income declared as a gain in the tax year in question, or is it added to the cost base of the asset, thus reducing Capital Gains Tax liability at the time the asset is sold?
Posted Tue, 03 Jan 2023 16:38:55 GMT by HMRC Admin 10
Hi Darrell Barnes
Foreign dividends are shown on the SA106 (Foreign) section, page F2.  
Where a foriegn capital gains charge arises, this is shown on SA108 (capital gains) page and if foreign capital gains tax is paid, you need to complete SA106, declaring any foreign tax piad on SA108 for Foreign tax xcredit relief and foriegn tax paid.
Posted Thu, 16 Feb 2023 12:39:01 GMT by Guy Shirley
HMRC admin 19 is wrong. Excess reportable INCOME is precisely that - income. It's either classified as dividend or interest but it is definitely foreign income for the purposes of the tax return. The Excess reportable income amount should increase the book cost of the holding so that when you sell it you aren't liable for capital gains tax on the amount which you've already paid income tax on.
Posted Mon, 04 Sep 2023 12:09:07 GMT by AshleyH576
Will someone in HMRC please give an official resolution to the difference of opinions here. Superficially, the original post asks about income, there is no disposal , and the response from HMRC above by HMRC Admin 10 looks plain wrong.
Posted Wed, 06 Sep 2023 15:38:04 GMT by HMRC Admin 10
Hi AshleyH576
If filing by paper, this is box 17 on the SA100.
If online, it is under any other UK income .

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