Tsz Kwan CHAN
Joined: 5/14/2021
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Estate from abroad
Hi, My sister was a U.S. citizen who died in 2020. I have received a share of her estate(less than GBP80,000) within the 23-24 tax year. I have done a little research myself that there would not be any tax charge in the U.K. to me. However, do I need to declare it on my self-assessment 2023-24? Many thanks! -
Fixed rate bond interests report in the tax return
Hi, I have a 1-year fixed-rate bond from July 2023 to July 2024 in Natwest Bank and the interest has been deposited into the same fixed bond account every month. However, I cannot withdraw the interest until the bond is matured in July 2024. I have received the Certificate of Interest from Natwest Bank which states the actual amount of interest received for the whole one-year bond and asks me to do the self-assessment for the 2023 -2024 tax return. My questions are: a/ Do I need to report the interest I earned from Jul 2023 to Apr 2024 in the 2023-2024 tax year only? Or..... b/ Do I need to report all the interests I earn from this fixed rate bond account in the whole one-year bond term(which is from July 2023 to July 2024) and the next 2024 to 2025 tax return? Please be reminded that I cannot withdraw any interest from this account until its maturity in July 2024. Please advise!