HMRC Admin 5 Response

Hi C100,

You are correct with A and B.  Limited access is still access and as such would fall under B.
If you can access the interest during the term, regardless of the reason, you declare the interest each year.  
Where the interest cannot be accessed until the end of the term, then the interest is declared at the end of the term.

Thank you.

Hi PeterChan,

You will need to work out your residence position first.  

If you are considered resident in the UK for the full tax year, then the income in this period is also taxable in the UK.  

A foreign tax credit could be claimed to avoid double taxation, provided their is a double taxation agreement between both countries.  

If you are considered not resident in the UK for the full tax year, you can then consider if you meet the criteria required for split year treatment to apply.  

You will need to decide if test 4 or 8 apply.  You can find guidance on this at RDR1 (Residence, domicile and the remittance basis: RDR1) and the relevant tests at RDR3 using the link in RDR1.  

Split year treatment can only be claimed by completing a self assessment tax return (SA100) and by using the resident supplementary page (SA109).  

The tax return can be submitted online, provided you purchase 3rd party commercial software (File your Self Assessment tax return online).

Thank you.