Aussie82
Joined: 12/22/2023
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RE: Report Tax on Foreign Interest Income
Hi HMRC, Situation: • I have several sources of Australian income – not just interest. • I'm in the higher rate tax band. I understand that my Personal Savings Allowance is £500. • For 2022-2023, my gross, worldwide interest is under £500. • Currently, my Australian interest is added towards my taxable income. Question: • Should I be claiming Foreign Tax Credit Relief if I'm within the £500 Personal Savings Allowance? Thanks in advance.