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Posted Mon, 18 Dec 2023 20:35:24 GMT by
I recently migrate to UK. I do not have employment income, but I do have some investments which generates dividend, interest, and rental income. I am seeking advice as how to put these in the self assessment tax return. A.) I am holding a US broker account. I have some UK shares which is paying dividend and 20% interest has been withheld. How should the dividend amount be reported? Should the gross or net amount be reported? Can the withheld dividend be refunded? B) The investments had been held in margin, and interest has been charged by the broker. 1] Can the interest expenditure offsets the dividend income? 2] I also invested into Loan Notes issued by private companies and received interest. Can these margin interest expenditure & loan note interest received be offset? C) I have sold off some shares, with gains & losses. But Capital Loss on net. Can such loss be offset by dividend / interest / rental income? Thank you for your advice. C23
Posted Fri, 22 Dec 2023 13:19:05 GMT by HMRC Admin 19
Hi,

You can see guidance here:

Tax on foreign income

You cannot claim margin interest as an expense and capital losses can only be set against capital gains.

Thank you.

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