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Posted Thu, 11 Apr 2024 15:21:12 GMT by Dean Kisyov
Hi everyone, I am in the process of registering as self employed. Once i get my utr number and my p60 (i am also part time employee) i will start filling my self assessment tax return. My questions are: 1. How to declare my income from Udemy? I am selling online courses there, but i am getting paid in US dollars in my paypal and from there i transfer them in pounds to my bank account. 2. Also i am getting paid from youtube from google ireland, I presume it is a UK income, because Ireland is part of the UK, so no need to be included as a foreign income. Thanks Thanks in advance
Posted Fri, 19 Apr 2024 14:16:45 GMT by HMRC Admin 25
Hi DeanCyber,
When tailoring your online return, you would tick 'yes' to the question regarding employment and select '1' for your part time employment. You would also tick 'yes' to the self employment section and select '1' for your self employment income from Google Ireland.
The republic of Ireland is outside of the UK, so if you have to pay tax there, you would declare this in the foreign section of the tax return and claim a foreign tax credit (FTCR), by clicking 'yes' to foreign income.
If did not pay overseas tax, then you can omit the foreign section completely.
Your self employment income will need to be converted to pounds sterling before being included in your tax return.
Thank you. 
Posted Fri, 19 Apr 2024 14:29:39 GMT by Dean Kisyov
Hi, thank you for the replay. I did not pay any overseas taxes. So even though Udemy is US based company and I am getting payments in USD dollars I don't have to declare them as a foreign income because i did not pay any overseas taxes. For youtube is the same. About converting the us dollars to pounds. What rate should I use? Because I was getting monthly payments in paypal and from there i automatically exchange them to pounds and straight to my uk bank account? Can I use that same amount to declare or it has to be used the exchange rate at the time or completing the self assessment form. Thanks, I hope you understand what i mean
Posted Wed, 24 Apr 2024 11:30:49 GMT by HMRC Admin 25
Hi Dean Kisyov,
Please refer to HMRC currency exchange average rates
Trade Tariff: look up commodity codes, duty and VAT rates
You can use any of the spot rates within the relevant tax year.
Thank you. 

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