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  • Tax treatment of Foreign Dividend income

    When I was dealing with PD1, they included details of stock dividends from a foreign company on the PA302. The income was shown as Investment Income, and the Foreign Withholding Tax Paid (FWTP) was shown initially as ‘Less non-repayable tax’ and then later under the ‘Adjustment’ heading. Effectively the FWTP was being set against my dividend income tax liability, thereby reducing my overall tax liability. I am now preparing to submit my tax returns through the SA system, and was surprised when I came across the response to the question in: Where in the self assessment tax return should I declare foreign stock dividends? When you said “Foreign stock/script dividends do not get reported for tax purposes. You do not need to enter these on a return.” The company for which I have received foreign dividend income is Greencore plc, based in the Republic of Ireland. Will you please confirm the correct tax treatment for this income, and whether I can include such income within the ‘Other taxable income’ (box 17) field, along with REIT income, with the FWTP in box 19. Obviously I want to keep my tax liability as low as possible, but I also want to pay the correct amount.
  • Non-UK Equities

    I have to complete a 2020-21 tax return for the first time (receiving the activation code this morning). I received non-UK equities £54.11 gross, £40.58 net. Do I need to click on the foreign income button at the start of the return to claim back the £13.53 tax deducted later on in the return? Thanks