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Posted Tue, 17 Jan 2023 20:22:04 GMT by Justin Joyce
Hi, I was hoping someone from HMRC would have answered this by now, I wish to finish my return correctly, if someone could answer this please: 1. I must enter dividends received on my self assessment form. However I do not know if these dividends should go in the dividends from UK section or the dividends from foreign companies section. The shares in question are for a company that has its global HQ in the UK, but this company is also registered also as a subsidary of one with a similar name registered in Jersey, and the shares I have are traded in the on the New York exchange in the US. So does this count as a foreign or UK company for self assessment purposes? I just need to have this question answered then I can submit my sa return. 2. Secondly, the dividends are untaxed in the US, using their non resident status certificate, but there is only a box for taxed foreign dividends, not untaxed ones, so where do I report my untaxed ones on my sa form, if these ones do need to go in the Foreign dividends box? It says not to put them in the Foreign income section. Very confusing. Thanks for your attention
Posted Fri, 20 Jan 2023 15:34:59 GMT by HMRC Admin 2
Hi,

All entries on a Self Assessment tax return are in pounds sterling. Some entries may need to be converted from a foreign currency to pounds sterling. You can find the offical rates here:

Exchange rates from HMRC in CSV and XML format

A foreign dividend is one that is paid by a non UK resident company. The Isle of Man, Jersey and Guernsey are classed as overseas, so any dividends from companies registered in these territories are foreign dividends.

If you are submitting your tax return online, In section 3, tailor your return, select 'yes' to the question regarding receiving foreign income. In section 4 'fill in your return', select 'foreign income types'. The first section is regarding foreign dividends.  enter a reference, so you can easily identify the shares in a list, select the country and enter the gross dividends. The foreign tax taken off box is optional. Click on 'add' and repeat until all of your foreign shares are added. Click on save and continue.

Thank you.

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