RE: USA Beneficiary IRA distributionThanks for your reply. I understand how to declare interest, but this isn't really interest as I understand it. This is a beneficiary IRA, meaning that it isn't a pension that I contribute to. I inherited it and am required to take a minimum distribution (RMD) from it each year. In Dec 2021, I took out $10,000. I understand that this is taxable in the UK, and also that I can claim FTCR. Is this considered interest by the HMRC? If not, where should this be declared? As it is essentially a sale of stocks and shares (though in a mutual fund), would I be taxed on the capital gain, rather than the full amount? Thanks again.
USA Beneficiary IRA distributionHello, I took a distribution from a beneficiary IRA in the USA this year. This is NOT a Roth IRA. Where in the self assessment form should I report this? Foreign income, obviously, but in Overseas Pensions? Or 'other income'? Also, I was not liable for tax on this distribution in the USA as my overall income was below the personal allowance. Does this mean that it is not taxable here either? Thanks.