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Posted Sun, 02 Oct 2022 15:20:39 GMT by CcAa
Hi, I had some cash rewards from a foreign savings account in HK and the cash reward was less than 2000 pounds after I became a UK tax resident. I know if I have a savings interest from foreign account less than 2000 pounds, I can input the amount in box 3 under "income" section of SA100 form instead of filling the SA106 form. However, I know that cash reward cannot be treated as interest. So, in my understanding, I should fill in column A,B & C under "Interest and other income from overseas savings" section in SA106 form only? Am I correct? I am NOT claiming remittance basis. If not, would you please advise which section should I input? Thank you.
Posted Wed, 05 Oct 2022 12:30:19 GMT by HMRC Admin 19

The cash reward needs to be delcared on the SA101 form at box 3.

Thank you.
Posted Wed, 05 Oct 2022 12:37:09 GMT by CcAa
Hi, thanks for you reply. I have just checked SA101 box 3 and it is about other UK income. I want to clarify that as my cash reward was from my foreign account in Hong Kong, filling in SA101 at box 3 is still suitable for me instead of filling SA106 in this case? thanks
Posted Wed, 12 Oct 2022 08:10:08 GMT by HMRC Admin 19

As it is foreign income, you will need to show it on the SA106 and class it as other income. Do not include it as interest.

Thank you.
Posted Wed, 12 Oct 2022 08:30:50 GMT by CcAa
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Posted Fri, 14 Oct 2022 12:51:05 GMT by HMRC Admin 19

Yes that is correct, box 42.

Thank you.

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