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Posted Thu, 06 Jul 2023 16:31:17 GMT by
Tax year 2022-2023 My status is as follows: Untaxed UK interest: GBP3 Untaxed foreign Interest: GBP27 (no tax on interest in Hong Kong) Untaxed foreign cash dividend: GBP13 Untaxed foreign special scrip dividend: 10 bonus shares distributed in specie: GBP148 (10 bonus shares x GBP14.8 per closing market price per share at the date of receipt) (No tax on both dividends in Hong Kong) Per the Foreign notes 2022-2023, I noticed two points: Use the ‘Foreign’ pages if you want to claim Foreign Tax Credit Relief or Special Withholding Tax if you’re claiming the remittance basis. When making a declaration of foreign income, please make sure that the figure of ‘double taxed income’ is shown – the figure that was actually taxable in the foreign country. Based on my status, Que 1: I should not use "Foreign" pages to report my untaxed foreign interest and untaxed foreign dividend because of no tax on foreign interest and foreign dividend in Hong Kong, correct? Que 2: Which form and section should I use to report my untaxed foreign interest and untaxed foreign dividend based on my status? Can I fill in: untaxed UK interest: GBP3 in box 2 untaxed foreign interest: GBP27 in box 3 (source from HK) untaxed foreign dividend: GBP161 (cash dividend of GBP13 + scrip dividend of GBP148) in box 6 (source from HK) foreign tax taken off: GBP0 in Box 7 In 2022-2023, I do not have employment income. I have untaxed UK interest, untaxed foreign interest and untaxed foreign dividend (cash and scrip dividends). I regret that I am struggle on these and kindly advise me. Thank you very much.
Posted Thu, 13 Jul 2023 11:11:24 GMT by HMRC Admin 10
Hi
The SA150 guidance notes state if your only foreign income was any interest in box 3 and dividends up to £2,000 and you’re claiming deduction relief, put the net amount of foreign dividends (in UK pounds) in box 6.  
Put the foreign tax taken off in box 7.  
If your total dividend income (including UK and foreign dividends) is over £2,000 and you’re eligible to claim deduction relief or Foreign Tax Credit Relief, do not include the foreign dividend in this box.
Complete the ‘Foreign’ pages instead.
Thankyou.
Posted Thu, 13 Jul 2023 18:48:48 GMT by
Thank you for your reply, HMRC admin 10.
Posted Fri, 14 Jul 2023 00:35:45 GMT by
Was in full time education

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