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  • RE: Self assessment on oversea sole trader

    Thanks for your reply. From the link provided, it seems that i dont need to send a self assessment tax return. I would like to know more about the policy, question no.9 " Did you get more than £10000 from dividends or savings and investments?" I actually got interests income in the savings but not more than £10000, I did some research before that there will be tax applied when interests gain more than £5000, I am a bit confuse in this point. Or the bank will have connection with the department, and hmrc will calculate and send us tax payment if necessary even there is no tax return needed? Thank you.
  • Self assessment on oversea sole trader

    Hi, I have 2 sole trader business in my original country, the turnover are more than £1000, one of it loss, whereas another one with little profit, . After calculation on both, the annually income of myself is negative, which means only loss for that year. So I don't need to pay any tax in the original country as well. In this case, do i need to declare in the tax return? if it is, which part of the online form I should fill in? I have tried to enter information on foreign income section, but it seems that the system assume something gains income only. So I hope i can have a clear direction on it, like which parts of the form i should enter, so that i can follow it. Besides, about the interests income tax, is it nothing related to my self employment income tax, no matter my business is gain or loss in the year? Thank you