Self assessment - Tax paid on Non-reporting funds

Hello. This year I am trying to add sales of overseas non-reporting mutual funds to my SA. I understand this will be taxed as income not CGT. Please could you clarify where on the online SA form I would put this and how do deduct the tax I paid on it overseas. For example I had a gain of £2000 on which I paid £200 tax. On Box 52 of ‘Overseas Income and Gains’ there is only a box for ‘Gains’ and no mention of tax paid. Can I use ‘Interest and Other Income from overseas’ in foreign section instead where I am able to specify the tax paid? As it is not charged to CGT - does tax paid on non-reporting funds qualify for income FTCR? Thank you

Hi,
Please refer to guidance at: HS265 Offshore funds.
Thank you.

Hi yes I did look at the guidance. Unfortunately, it didn't contain that information. Nor was there any clear guidance on Self Assessment submission. I tried calling HMRC but the queue is seriously long. I only need to work out where to declare the tax paid on sale of non reporting mutual funds on the SA form and whether it qualifies for FTCR. I can then submit my Self Assessment. Thanks,

Hi,
A non-reporting fund is any offshore fund that does not have reporting fund status for a particular period of account  Non reporting funds are treated as 'offshore income gains' and are subject to Income Tax and not Capital Ggains Tax.  
The gains should be entered in box 41 of SA106 and in the box marked "Other overseas income and gains" on the online return.
If tax is payable on the overseas country, you can claim a foreign tax credit in box 2 of SA106.  
Self Assessment: Foreign (SA106)
Thank you.

Thanks. Just a last practical follow up for filling in the Self Assessment form online: Can you confirm whether I also need to fill in the foreign section called "Foreign tax paid on employment, self-employment and other income" to identify this particular income's claim for FTCR OR can I just put the figure into box 2? Thanks

Hi,
Yes you do - Offshore funds (Self Assessment helpsheet HS265)
Thank you.

Hi, Sorry, although the link you provided does direct me to fill in SA106"Other overseas income and gains" in order to report non-reporting offshore funds BUT it does not mention the section titled SA106"Foreign tax paid on employment, self-employment and other income". (Just to clarify, this is nothing to do with employment income, just the process for reporting offshore non-reporting funds as income and claiming FTCR. I would like to know if I also need to complete SA106"Foreign tax paid on employment, self-employment and other income" if I want to claim FTCR.)

Hi ,
 

You only complete the sections that are relevant to you. Offshore funds should be declared as interest or dividends . Thank you .

Hi, Yes, I intend to only complete the sections relevant to me. My question is whether the section "Foreign tax paid on employment, self-employment and other income" is relevant to me if I want to claim FTCR on the income reported in "Other overseas income and gains" section. Thanks

Hi,
Yes it is as this opens the relevant boxes.
Thank you.