Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sun, 31 Mar 2024 21:58:26 GMT by PaulaHelena2024
Good evening, I have some questions regarding the self-assessment on foreign income. I hope you're able to help me. I have a foreign (Finnish) savings account which gained interest last year. Am I correct to assume that this should be declared in the self-assessment in the foreign income section, regardless of the amount and regardless of the fact, that I already paid taxes from this (30% tax-at source)? Secondly, could you confirm to me that any funds (my own savings) that I have transferred from my foreign account to my UK account are non-taxable? Thank you very much in advance.
Posted Thu, 04 Apr 2024 16:52:29 GMT by HMRC Admin 25
Hi PaulaHelena2024,
Yes, you will include the interest on the foreign section of your tax return.
You can claim Foreign Tax Credit Relief for the tax paid to reduce any UK tax liability.
The transfer of the actual capital is not taxable.
Thank you. 

You must be signed in to post in this forum.