Self Assessment 2022-2023

Hi HMRC team, May I know: Q1. I arrived in the UK in May 2022. I don’t have job (i.e. no income) but I have the following untaxed income: i. Interest from banks in HK and UK banks (not exceed the interest tax allowance) ii. Dividends from foreign listed company (not exceed the dividend allowance) iii. listed company declared a special interim dividend in the form of distribution in specie of shares of its subsidiary held by the listed company to the shareholders whose names appeared on the register of members as of the book closure date in proportion to their then respective shareholdings in the listed company on the basis (I still hold these special dividend: bonus shares in my account) Based on the above, do I need to send a self-assessment return of 2022 to 2023? Q2. I did the test of Check if you need to send a self-assessment tax return The result based on my answers, I do not need to send a tax return of 2022 to 2023. May I confirm that I can base on this result and do not need to report tax return of 2022-2023 despite I have the abovementioned untaxed income (items i-iii) set out in Q1? Q3. Per the item iii in my Q1, special interim dividend (i.e. bonus shares shown on my bank statement). I have asked my bank to provide the market opening price & the market closing price of each bonus share as of the transaction date (the date when I received bonus shares in my securities account per the bank statement). If I need to send tax return of 2022-2023, may I know whether the following formula is correct? If it is correct, can I add the TOTAL AMOUNT with other cash dividends together for reporting in the same column? Total number of bonus shares were granted x market closing price per share as of the transaction date = TOTAL AMOUNT If I dispose the bonus shares in future, may I know whether I can use the following TOTAL COST OF DISPOSAL to calculate the CGT? market closing price of each bonus share as of the transaction date x number of shares to be disposed = TOTAL COST OF DISPOSAL I look forward to receiving your reply. Thank you very much. Best regards, 

Name removed admin 

Hi MMYC,

As the majority of your income is foreign income, a tax return is still required.
For the shares, please refer to Shares and Capital Gains Tax (Self Assessment helpsheet HS284).

Thank you.
 

Hi HMRC Admin 20, Thank you for your reply. Per my question no. 2, I assumed that I can base on the online test result and do not need to report self assessment tax return of 2022-2023 before I asked your team. Per my question no. 3, would you advise me how to report this special dividend in self assessment 2022-2023? I do NOT sell the shares and it doesn’t involve in profit on disposal at the time of reporting 2022-2023 tax return. Thank you. Best regards, MMYC

Hi,

If they are actual dividend payments, these will be under dividends. If foreign dividends, they can still be declared here but if they amount to more than £2000, you must show them as foreign dividends on the foreign income section.

Thank you.