Nick Buck

I know it was 5 months ago but have another question on this regarding the DTA please. Do I declare the foreign tax paid in the USA (it would be 30%) on SA106 section C if I know I am getting a tax refund ? If I am NOT getting a tax refund but paid 30% witholding tax to the IRS does that tax paid count towards my UK tax burden and if so to what extent? For example, having withdrawn a grossed up amount (in UKL converted) of £85k, the tax paid in the US would be approx £25.5K, does that amount then count towards my taxes here? I am confused! If this is too specifc and I need personal advice please elt me know, Regards

Thank you, that’s very useful. I am led to believe I report this income under “ Interest and other income from overseas savings”? Is that correct? I presume our social security payments go into the box that says exactly that?! Thanks again,

I am a UK resident tax payer. I am shortly going to start withdrawing amounts from my US based 401K account. Thsi will be periodic payments and thus I understand that tax will be due here on those amounts and I will declare it as foreign income and pay as required. The 401K provider will have to withhold an additional 30% of anything I withdraw as is required by the IRS. As a non-resident of the US I can then claim that 30% back annually with a 1040NR tax filing sent ot the IRS. I then intend to transfer that tax refeund back to my UK based bank account My question is whether UK tax will be payable on the tax refund amount when I transfer it to the UK? ie - is the tax refund from the IRS also treated as taxable income by HMRC here in the UK? Thank you for your help.