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Posted Wed, 05 Jul 2023 14:07:56 GMT by
My UK based broker pays credit interest on uninvested balances in foreign currencies. As this is a UK broker, does this need to go on my UK savings interest or, as it's foreign currency, does it go on the Foreign Income section of my tax return? I believe they actually split the cash amongst various US banks, which leads me to think it may well count as foreign income, although the fact the broker themselves is UK based makes me wonder if it counts as UK interest.

[Company information removed - Admin]
Posted Tue, 11 Jul 2023 14:07:39 GMT by HMRC Admin 32

If the foreign currencies are held outside the UK, the interest would be foreign income.

Thank you.

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