Saz A

Thanks for the reply - I am now more confused than ever. I called up earlier and was advised I needed to complete the Foreign section instead as I have already paid foreign tax on these dividends in the US, and eligible for tax credit relief. If I add them to the income section as above, it actually increases my tax bill - the dividends are treated as additional UK income despite them beig under the 2K dividend allowance. Which is the correct way? If I claim for foreign tax credit relief, how much is that for USA/UK, 15%?

Just to be clear - I have not remitted the dividends to UK, they are still in the US broker account. These are the answers I gave but unsure whether to include it as its a) already taxed and b) not actually part of my UK income. 6. Foreign dividends (up to £2,000) - the amount in sterling after foreign tax was taken off. Do not include this amount in the Foreign pages: GBP 240 7. Tax taken off foreign dividends. Enter the sterling equivalent: GBP40

I received a notice in August 2020 that I paid too little tax in 19/20 tax year, and that the £319.20 owed will be collected from following April through PAYE. My PAYE coding notice in for 21/22 showed this adjustment ‘Less adjustment for tax you owe (earlier year)’ £798’. I had entered this on my 20/21 SA under but I’m now inclined to think that was a mistake - due to the date of the letter it is awfully confusing. Could I confirm that I need to include this on my 21/22 return instead, ie as follows and amend to leave these sections blank/£0 for the 20/21 return? Underpaid tax and other debts 7. Amount of underpaid tax for earlier years included in your tax code for 6 April 2021 to 5 April 2022 (from your PAYE Notice of Coding): £ 319.20 8. Amount of estimated underpaid tax for 6 April 2021 to 5 April 2022 to be included in your PAYE tax code for 6 April 2022 to 5th April 2023 (from your PAYE Notice of Coding): £ 0.00 9. Amount of outstanding debt included in your tax code for 2021-22 £ 0.00

Im unsure whether I have to declare dividends received from my foreign stock account in the income section - the net amount for 21/22 was only about £240 after approx £40 foreign withholding tax was taken off. I have not touched or withdrawn any money from the broker account. Is there any benefit and need to declaring net and tax amount under the following sections? 6. Foreign dividends (up to £2,000) - the amount in sterling after foreign tax was taken off. Do not include this amount in the Foreign pages: 7. Tax taken off foreign dividends. Enter the sterling equivalent: