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  • Foreign income from Isle of Man

    Hello HMRC, I am an UK resident and will submit a self-assessment for the tax year of 2023-24. I have received saving interests as income from some banks in Isle of Man. I will report that amount of income as foreign income in my self-assessment and will pay the corresponding tax. After the tax of that income is paid to HMRC, do I still need to pay any tax to the Isle of Man government for that same interest income? Thank you. Kind Regards
  • Do I need to report these incomes in a self-assessment?

    Dear Sir/Madam, My wife has been an UK resident for 2.5 years now and she has received some income (interest from savings) in the tax year of 2023-24. - Her total income (saving interest from both overseas and from the UK, all un-taxed) is around £5,000. This is her only source of income. - She was not working in the tax year of 2023-24. - She has not submitted a self-assessment in the past. Some queries, in her case: 1) Does she has to submit a self-assessment? 2) Does she has to report those income to HMRC in other way? 3) If both negative for the above 1) and 2), does she has to do anything related to the tax requirements for the tax year of 2023-24? Thank you very much.