wlwtsang
-
Foreign Pension and Life Annuity Plan
I have two questions regarding the reporting of foreign pension income and income from a life annuity plan in the UK self-assessment tax return: 1. Foreign Pension I received pension income from Hong Kong during the last tax year. My understanding is that this income is covered under the Double Taxation Agreement (DTA) between the UK and Hong Kong, which means it should not be taxable in the UK. I entered the amount under the "Overseas pensions, social security benefits, and royalties, etc." section and provided supporting details in the "Any other information" section. However, the "View Calculation" section shows the pension as taxable. Question: Where should I correctly input the foreign pension income in the self-assessment to ensure it is not treated as taxable in the UK? 2. Life Annuity Plan I have income from a life annuity plan purchased in Hong Kong. To my understanding, the capital portion of the annuity is not taxable in the UK and the interest portion is taxable. Question: Do I need to report the capital portion of the annuity in the self-assessment? Thank you very much