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Posted Mon, 29 Jan 2024 22:52:36 GMT by
Hi HMRC, My wife and I are currently unemployed, and we both have a few cash savings account in Hong Kong for some miscellaneous purposes. However, there are some interest incurred in these savings accounts and they are our only foreign income, they are less than £20 and £10 in the taxable year 2022-2023 respectively. 1. Could you please advise if we need to file a self assessment tax return as we received the mentioned foreign interest income and they are our only income and we don’t have other income at all? 2. ⁠Could you please also advise is there any threshold for the foreign interest income which do not require to be filed a self assessment tax return if we have no other income to report? Thank you in advance.
Posted Thu, 01 Feb 2024 12:06:01 GMT by HMRC Admin 5 Response
Hi

Please see Tax on foreign income: Overview - GOV.UK (www.gov.uk).  There is no threshold for foreign interest.  

Thank you

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