Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Thu, 03 Aug 2023 15:21:05 GMT by M H
I have lent some money to an overseas company as an investment and receive some interest every month. When I fill in the self assessment, is this treated as my interest income? As I do not have any other income except this, what is the total tax allowance that I can have? Do I have the GBP1000 personal savings allowance? Do I have the starting rate for savings GBP5000 as well? Thank you.
Posted Tue, 08 Aug 2023 14:45:51 GMT by HMRC Admin 5

This is foreign interest and should be converted to pounds sterling, so that it can be declared in the self assessent tax return.  
If the untaxed foreign interest is below £2000.00, you can declare this in box 3 of SA100, otherwise, it will need to be declared in SA108 (foreign).  
The savings rates would apply to the foreign interest as well as UK interest, as advised at Tax on savings interest.

Thank you

You must be signed in to post in this forum.