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Posted Thu, 25 Jan 2024 13:20:22 GMT by
Dear Officer, Question 1. I lived and worked in Hong Kong before moved to UK in September 2022, I am working freelance for a client in Hong Kong. In the Self-assessment registration for the tax year 2022/2023, I registered as Sole Trader, but I input the wrong company name, but I have not do the Self-assessment Tax Return yet . If I fill-in the correct company name in the Self-assessment Tax Return, do I still need to inform HMRC about it? If yes, how can I inform HMRC? Question 2. My client in Hong Kong deposit the income (HKG dolloars) to my Hong Kong account every month, but only part of the income transferred to my UK accout. In the Self-assessment Tax Return, should I file this foreigh income in category SA103(self employed) only? or I need to file it in the forms of both SA103(self employed) and SA106(Foreigh income)? Thank you for your advice. I
Posted Mon, 29 Jan 2024 15:29:09 GMT by HMRC Admin 32

You would need to contact our Self Assesment team either by phone or our webchat facility to advise of the error and to have your records updated.  

Self Assessment: general enquiries

The foreign income should be converted to pounds sterling and included in the self employment section SA103. Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for the foreign self employment income.  

For your convenience, there are exchange rates at:

The National Archives: Exchange rates from HMRC in CSV and XML format

For older rates at:

The National Archives: Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009

You are free to use any of the supplied rates or one of your own choosing.  You would only need to fill in SA106, if you were claiming a foreign tax credit relief, in which case you would declare on page F6 of SA106.

Thank you.

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