london1979
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RE: UK tax on dividend income in India which has been already taxed in India.
Thank you very much for your response and it helped me clarify what path I need to take. May I request some some additional guidance. It seems that I have mistakenly avoided paying the right taxes but I wish to make things right. My stay in UK has always been a constantly wavering decision of should we stay or return back to India because of the ill health of my partner. I had to become carer for my wife for most part. I paid my taxes in UK and India independently. But I admit this was due to lack of awareness and misinformation. I have realized that I will have to choose the arising basis of taxation which will have to be back dated. I have just finished 13 years of being here in March 2024. I came here to seek employment in March 2011. Of these 13 years I have only been able to work only 5 years full-time due to the above mentioned reason. This employment was dotted between these 13years, of and on. I also want to remain true to HMRC and want to be transparent because I have nothing to hide. Please kindly guide me with the following: 1) How many years will I need to back date my returns ? 2) After fulfilling the arising basis tax liabilities do I need to file for relief for double taxation separately ? 3) Will I have to pay additional tax or charge when I finally bring this money to UK from India after paying taxes on arising basis ? 4) Is there an email address where I can start talking to HMRC as I have received a letter from HMRC to declare if I have world wide income. Is it ok to tick that "I have not declared my overseas income and/or gains as they are not liable to UK tax" as that was my supposition because I paid all my taxes in India and UK independently ? And then elaborate in a separate letter ? Please if you can help make the right choice. Thank you so much. -
UK tax on dividend income in India which has been already taxed in India.
I am a UK resident but I do not work here and have no income in the UK. My domicile is India. And I have some dividend income from mutual funds in India which are taxed in India and reinvested into the fund and never remitted to UK. I am a taxpayer in India. The income from dividend is around £20K (converted from Indian Rupee). Do I need to pay tax in UK on this dividend income ? Does this not fall under the Doble Taxation Avoidance Agreement (DTAA) ? Please kindly guide me.