Skip to main content

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

Posted Mon, 08 Jan 2024 20:49:17 GMT by
Hello, I am a dual citizen of the UK and the USA. I live and work in the UK. I hold some shares in the USA. Every year I declare dividend and capital gains income from my US account in my US tax return to the IRS, and pay US taxes as appropriate. Do I also need to declare the dividends & capital gains from my US accounts to HMRC in my self-assessment, and get taxed again? I have been doing so, but this doesn't seem fair so I wanted to check. As above, I live and work in the UK, and pay taxes on my employment and other income here in the UK. Thank you.
Posted Wed, 17 Jan 2024 12:15:58 GMT by HMRC Admin 8 Response
Hi,
As UK resident you need to declare your worldwide income.
You can claim foreign tax credit relief for the US tax to reduce your UK bill. see further guidance at:
Tax on foreign income
Thankyou.

You must be signed in to post in this forum.