Skip to main content

This is a new service – your feedback will help us to improve it.

  • Foreign bank interest

    Hello I am after some quick advice I have UK bank interest, some foreign bank interest and small amount of sole trader income for the current (23/24) tax year. The total of all 3 will be below the personal tax allowance. With regard to the foreign bank interest, tax was paid at source. I understand I have to complete a SA could you advise where I enter the figures for the foreign bank interest. Also, do I enter gross or net interest received, and can I claim back the tax on this? Many thanks
  • Indian bank interest

    Hello I am a resident UK national, currently my earnings are within the personal tax threshold, I also complete in self-assessment for a small amount of sole trader income and bank interest My family has gifted me money in India and the money is residing in a bank account over there. The funds are in fixed deposit that are due to mature in this UK tax year. I was told I can avoid having to pay the 15% tax on interest (charged by Indian authorities on remitting/repatriating funds to UK) if I provide a HMRC Certificate of Residence to the tax authorities in India, and thereby avoid having to claim it back here. I sent a request to HMRC but received a letter back with a "Letter of Confirmation", stating that I could not get a Certificate of Residence as I currently have no income from overseas to declare to HMRC - I will do, just have not received the interest yet and have not filed a self-assessment for this year yet. Can you please advise what the best course of action is? Currently, even with the projected Indian bank interest I would still stay within my personal tax threshold. If I claim the 15% credit relief from you (once I have paid it in India) will I receive it in full even though I have not paid any tax? Thank you