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Posted Thu, 30 May 2024 05:58:33 GMT by CBX500
Good morning, I would like some direction on US share dividend reporting, On help sheet titled "Tax on dividends " on bottom of page 1 it says you do not pay Tax on any dividend income that falls within your personal allowance. So if I had US dividend of £2900.00 minus dividend allowance and I still had my full personal allowance would I not pay any tax . But Would I still have to report it under foreign income on a self assessment, Thanks,
Posted Tue, 04 Jun 2024 10:45:39 GMT by HMRC Admin 19

As you have a foreign source of income, it does not matter what it is, you need to declare it in a Self Assessment tax return, SA100, in pounds sterling. There is a section in SA106 for dividends.  

Self Assessment: Foreign (SA106) EnglishCymraeg

If you have had to pay tax in the foreign country on the dividends, you can claim a percentage as a foreign tax credit, if there is a tax treaty with the UK and the other country. You can see the guidance below to find out how much relief is available.

Tax treaties

Thank you.

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