Moleman
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RE: Foreign Tax Credit Relief reduced to maximum allowable
Hi Thank you for the speedy reply and helping me out . Tax form was successfully completed and on time !!! So all brilliant Just a quick question as I am getting the data together for this years tax form In the example from above there is £1k of unrelieved overseas tax . Can I check if would be possible to carry forward this amount to this tax year ? -
Foreign Tax Credit Relief reduced to maximum allowable
Hi Just trying to complete my sons first Tax return . He just started his career as a professional sportsman and has earnt some money in 13 countries - all have a DTA with the UK - as well as in the UK. On looking at the View your Calculations section, his foreign tax paid amount has been reduced to match the tax he owes . There appears to be a maximum allowable . For example if he paid £4K in foreign tax but only owed £3k tax after allowances etc then the max allowable would be £3K - is this how this works ?