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  • RE: Overseas Trust - do I need to file?

    Hello, I still haven’t had a reply to this - please could I have an update?
  • Overseas Trust - do I need to file?

    Hello, For the years 2020-2021 and 2021-2022, I had an overseas trust left to me by my mother, in a diversified interest account. This trust was not accessible by me until I turned 26 in 2022, had a separate tax file number, and was administered by my aunt. Do I need to submit a self assessment form for the trust for these years? My Australian accountant does not seem to think so. However I want to make sure I'm doing the right thing. Thank you very much in advance!
  • Foreign Tax Credit Relief

    Hello, I am inputting foreign income details from Australia in my self assessment. When I put in the "Foreign tax taken off or paid: (optional)", my taxable amount goes down. (e.g. 1000gbp to 800gbp). My question is this: I have paid foreign tax on my income. i wish to claim foreign tax credit relief. I am a UK resident, the income arose in Australia. So for example, I earned 1144 gbp of interest, paid 200 gbp tax, and claimed 10% relief given the Digest of Double Taxation Treaties. Can I confirm that this is the right way to input it? Additionally I often see mentions of form SA106. Do I need to fill this in in addition to completing my self assessment return pages? Thank you.
  • RE: Foreign income - inputting details and working out months

    As posted above, my Australian tax return says: 1) Interest and interest not subject to non-resident withholding tax, 2) Dividends unfranked, 3) Dividends -conduit foreign income, 4) Other income, 5) Non-primary production income, 6) Dividends franked, 7) Dividends distributions from trusts. However I’m not sure what this “translates” to on the UK form and don’t want to get it wrong. Are you able to advise on this?
  • RE: Foreign income - inputting details and working out months

    Thank you! And what 'types of income or gains' should I select on the form? e.g. dividends, 'other income' etc.
  • Foreign income - inputting details and working out months

    I have a foreign investment fund in Australia and am a tax resident in both the UK and Australia. I am completing the Self Assessment in the UK and am unsure how to report this foreign income in Section 4 (Foreign income details). According to my investment fund tax statement, for the months July 2022-June 2023 my Australian income consisted of: 1) Interest and interest not subject to non-resident withholding tax, 2) Dividends unfranked, 3) Dividends -conduit foreign income, 4) Other income, 5) Non-primary production income, 6) Dividends franked, 7) Dividends distributions from trusts. For the months July 2021-June 2022 my Australian income consisted of: 1) Interest and interest not subject to non-resident, 2) Dividends unfranked, 3) Dividends -conduit foreign income, 4) Other income, 5) Non-primary production income, 6) Dividends franked, 7) Franked distributions from trusts. 8) Capital gains 9) Discounted capital gains (TAP) and (NTAP) and (other), 10) Foreign income I have two questions: 1) Which 'types of income or gains' do I select on my self assessment form? 2) The months for the Australian investment account statement don't line up with the UK tax year. For the year July 2022-June 2023, how do I work out this monthly so I am not reporting the months may& june, as the UK tax year only goes to april? Hopefully that makes sense. Thank you very much!