Skip to main content

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

Posted Wed, 13 Dec 2023 23:19:32 GMT by
I am filling in the `Interest and other income from overseas savings` section of my self-assessment, because I need to declare some foreign income solely coming from interests from my savings in France, which exceed £2,000. I already paid some tax in France on that, which I would like to claim as FTCR. I understand that I can get a full relief on French tax already paid on interests coming from France, as per https://assets.publishing.service.gov.uk/media/5b05425fed915d1317445ed2/DT_Digest_April_2018.pdf which I found by clicking on `Relief for Foreign Tax Paid 2023 (HS263)` on https://www.gov.uk/government/publications/calculating-foreign-tax-credit-relief-on-income-hs263-self-assessment-helpsheet?_gl=1*clqkag*_ga*MTk5Mjg0OTA1Ny4xNzAxOTcxMjky*_ga_Y4LWMWY6WS*MTcwMjQ5MDMyMS4zLjEuMTcwMjUwODcwNS4wLjAuMA..&_ga=2.254397704.1863588534.1702490361-1992849057.1701971292 and then on `Digest of Double Taxation Treaties` at https://www.gov.uk/government/publications/calculating-foreign-tax-credit-relief-on-income-hs263-self-assessment-helpsheet/relief-for-foreign-tax-paid-2023-hs263 However, after selecting `Yes` to `Do you wish to claim foreign tax credit relief?`, I am asked to answer `Rate of tax credit relief allowed: (optional)` and the drop down menu only shows options from 0% to 25%. What value should I choose, given that full relief means that the allowed rate should be 100%?
Posted Tue, 19 Dec 2023 13:44:42 GMT by HMRC Admin 5 Response
Hi

The drop down menu is for the highest rate of tax relief due based on the rate of UK tax that you pay and not the actual income.

Thank you

 

You must be signed in to post in this forum.