claim foreign tax credit relief

Hi,

The foreign tax credit relief is up to 100% of the foreign tax paid.  Where the UK capital gains tax is lower than the foreign capital gains tax, you need to amend your FTCR to the maximum

of the UK tax payable.  This will show that there is no UK capital gains tax payable, as you paid this in the overseas country.

Thank you.

Hi William KD,
If you are declaring a foreign capital gain, you need to declare this in the capital gains section, to bring the gain into the calculation and also in the foreign section where you declare the foreign tax paid. You can also declare a foreign tax credit to set against the gain in the calculation.
Thank you.

Hello I am trying to post my query as a reply as I am being unable to find a way to pose my question as a new thread or query. Please forgive me. My issue is basically this - while filing my self-assessment for Tax year 22-23 I am reported my foreign income (on which I had already filed my return) However i Forgot to tick yes to the foreign tax credit claim column - I was confused because my total income was below the tax threshold and so even though the income is declared and assessed there is no tax due. There is an active and thriving DTAA in place -and I have both the DTAA as well as the assessed return as documentary evidence. Howwever HMRC calculations have calculated this as surplus to the tax threshold and taxed me - I need advice on how to claim the refund, please! Many thanks

Hi,
We cannot view your personal records on the forum. Please contact our team for advice on your query:
Self Assessment: general enquiries
Thank you.