Foreign Sole trader

I would like to ask question about foreign sole trader business. Case as below: 1/ the tax payer moved to UK since this tax year in 2023/24 and I was never be a tax resident of UK before this year. 2/ runs a business as a sole trader which is a registerd in a foreign country (i.e. not in UK) since many years ago and continues this busienss during the tax year of 2023/24 after moving to UK. My income from this foreign sole trader busines is over GBP 1,000 each year. I would like to know: 1. whether the profit this foreign sole trader business a foreign income or a UK income? 2. Is this foreign sole trader business subject to NI in UK? 3. When filling in SA100 Question 2 "self-employment", shall this foreign sole trader business be included? Thanks

Hi elsie,
Please refer to guidance here:
Tax on foreign income
Thank you. 

 

Dear HMRC, Similar situation please, profit around 2000 GBP as a sole trader outside UK. Declared in annual return overseas but no tax paid. My questions: 1. Will this go in UK tax year 24-25 if profit declared after April 2024? 2. As no tax paid on this profit, does it require foreign pages? Thanks for your support.

Thanks HMRC Admin 25. I have go through your link 'Tax on foreign income" but it does not mention treatment of foreigh sole trader. The country in which the foreign sole trader is set up and run is a place where there is double tax agreement wtih the UK. Just wonder my income (and expenses) in the foreign sole trader operations will be taxed as "foreign inocme" or "UK income"?

Hi ,
 

1. It is decalred in the tax year the income is received   2. No  .  Thank you .

Hi,
If you are are living in the UK, you will class this as self employment in the UK and include it within your turnover.
Thank you.

Thank you. Do I have to pay NI for the foreign sole trader?

Hi,
As it forms part of your UK income, then yes, you do have to pay NI.
Thank you.