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Posted Fri, 19 Jan 2024 10:27:31 GMT by
Dear HMRC, I hold US Bonds and interest income are generated, so the Accrued Income Scheme is applied when I prepare the SA106, My Question are : Q1, Do I need to provide a investment details summary to HMRC to show the accrued income gains and accrued income loss on each transcation? Q2, If I buy the bonds on 1 Jan 2024 and next interest pay date is 1 May 2024, So, should the "accrued income loss" reflect in 2023/2024 taxable year and "accrued income gains" relect on 2024/2025 taxable year? Thanks Terry
Posted Mon, 22 Jan 2024 15:27:08 GMT by HMRC Admin 10
You can include additional information, as an attachment to your tax return, to support the figures you have declared.  What the supporting evidence is and its format, is up to you.  Using the 'arising basis' of income tax, the interest paid on 1 May 24, would be in the 24/25 tax year.

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