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  • RE: Foreign pension query

    Thank you HMRC Admin 18 and Gary Coombs for the replies. @HMRC Admin 18, I'm unclear on your replies. Please could you clarify: 1. Based on the information provided, my dad cannot apply for FTCR, correct? 2. Thank you for sharing the link to the exchange rates. Please could you provide more guidance on my original question as I'm still unclear on the following: should I use the exchange rate applicable on the day the yearly pension total arose overseas, i.e. the date on the CU? Or does this need to be calculated for each monthly payment and summed?
  • Foreign pension query

    My dad is Italian and he needs to submit self-assessment for his foreign pension (no other income). As he was unable to verify his identity for Government Gateway, he cannot file online and instead we are printing the relevant forms (SA100 and SA106) to be filled in and sent by post. We have read the helpsheets and have a couple of unanswered questions we hope you can advise on. 1. My understanding of the DTA between the UK and Italy is that pension should be taxed in the UK if the person is a UK resident (which my dad is). He has been taxed on his pension in Italy. Please could you confirm that he cannot claim for FTCR on the SA106 form and must instead claim relief in Italy? 2. The SA106 form states that ‘All entries should be in UK pounds’. For the yearly net amount, this can be calculated by summing his monthly payments. However, for his gross amount, as provided on his ‘certificazione unica’ (CU, equivalent/approximate of P60 I think), we will need to convert this from EUR to GBP. Please could you advise what exchange rate should be used? Should it be the exchange rate applicable on the day it arose overseas, i.e. the date on the CU? Many thanks

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