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Posted Sat, 26 Apr 2025 13:38:38 GMT by john2938
I am resident in UK and have both US and UK income. I understand that when declaring my US income to HMRC, I may transpose the income from the US tax year, such as 1 January 2024 to 31 December 2024, to the UK tax year 6 April 2024 to 5 April 2025. Does this mean that for filling in my UK tax return I should advance the actual date of realization of a capital gain, eg 1 February 2024, by 96 days (the number of days from 1 January to 6 April) to 7 May? I ask this because when I tried to report a capital gain in connection with a disposal of US shares in February 2024 in my UK 2024-2025 tax return, the program that I use for preparing my UK tax return did not allow me to enter that date because it was outside the 2024-2025 UK tax year. Should I similarly advance the actual date of acquisition by 96 days?
Posted Wed, 30 Apr 2025 07:53:18 GMT by HMRC Admin 25 Response
Hi john2938,
Please see:
INTM161220 - UK residents with foreign income or gains: double taxation relief: Foreign tax.
The dates used must match in with the UK tax year so when you are referring to a date of 7 May this must be in 2024 and not 2025.
Thank you. 
 

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