SA106 FTCR

Dear HMRC, I have US securities investment and some of distrubutions from investment are being taxed by US-GOV, so I need to prepare the SA106 and like to claims on FTRC,When I complete the FTRCWS and put the result to SA106 Box2, May I ask: Q1. Do I need to submit those FTRCWS to HMRC? Q2. Do I need to provide a details summary of the interest incomes come from and breakdown of the investment that fill in on colume A-F?If not, how do I prove to HMRC my declaration of my claims on FTCR? Terry Thx

Hi

1. It is not mandatory to submit it but you can attach it as evidence to support your figures  
2. No, you dont need this at this time. You may be asked at a later date though to provide evidence.

Thank you

Another question re SA106 and FTCR. Which is probably easy, but I am getting confused ! I am a British Citizen now retired and resident in Cote d'Ivoire (CIV). I am married to an Ivorienne and by marriage have Citizenship here with National Identity card etc. I have a savings account here upon which tax is deducted on interest paid. At a tax rate lower than would be charged in the UK. There is a DTA with CIV. Should I or can I claim FTCR for the tax deducted on SA106 ? I am using an approved company software for my tax return, and if I don't claim the FTCR it shows my taxable income as the net amount, which I assume I am then being taxed again in the UK. If I do claim FTCR it shows the gross amount as taxable income, but then the FTCR reduces the amount of tax owed. Thus my confusion.

Hi Richard Webb

As a resident of the Cote d'Ivoire, you are only required to declare UK income and capital gains in a self assessment tax return, such as income from UK property.  
You do not declare your income from overseas banks, pensions, employments etc.  
The SA106 is completed by UK tax residents, to declare their world-wide income.

Thank you

 

Many thanks for the reply, and now a bit more confused ! 1- So as a British Citizen, albeit resident in Cote d'Ivoire. I only need to declare UK interest, UK dividends, UK capital gains if any, other UK income eg P2P income and UK pensions as and when they become payable ? (I have no UK property income). 2- And as you say foreign interest from banks does not need declaring. But does foreign income of interest or dividends need declaring from investments eg interest/dividends from etf's where the money comes via Ireland (IRL) ? I have no pensions or employment here. Kind regards, Richard

Hi,

1. Yes, only UK income.   
2. Anything outside of UK does not get declared. This includes income from the Republic of Ireland as this is not part of the UK, only Northern Ireland counts.

Thank you.

1.The oversea property under my husband's name is rented out, and the tenant transfers the rent directly to my account every month. Should my husband continue to file the property tax? 2.How does the tax bureau know that my overseas savings insurance income can be deducted under the 5% rule? Do I need to give extra information ? 3.I have a loss after surrendering an overseas savings life insurance policy. Do I have to file a tax return? 4.Do I only need to fill in last year’s total income and prepayment of taxes for double taxation? Or the actual taxes paid this year? What should I do because I still haven’t received the tax bill notification?

Hi NGAR,
1. as he is the legal owner yes  
2 & 3. see HS321 Gains on foreign life insurance policies (2024)    
4.any income and tax paid in the 23/24 UK tax year.
Thank you.