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Where Taxpayers and Advisers Meet

Search found 6 matches

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by sushd
Fri Jan 18, 2019 8:46 pm
Forum: International Tax
Topic: Foreign Tax Credit Relief - India interest income on savings
Replies: 2
Views: 835

Re: Foreign Tax Credit Relief - India interest income on savings

Just wanted to add that I am higher rate tax payer (40%).
by sushd
Thu Jan 17, 2019 12:31 pm
Forum: Income Tax
Topic: Is filing tax returns necessary when working on ICT Tier 2 visa
Replies: 1
Views: 547

Re: Is filing tax returns necessary when working on ICT Tier 2 visa

P60 shows that you have been taxed by the employer under PAYE.
If you did not have any other taxable income in UK which has not been taxed, then there is no need to file a self-assessment return.

tc
sushd
by sushd
Thu Jan 17, 2019 9:20 am
Forum: International Tax
Topic: Foreign Tax Credit Relief - India interest income on savings
Replies: 2
Views: 835

Foreign Tax Credit Relief - India interest income on savings

Hi, I am a UK citizen, working and resident in UK. I have foreign (interest) income in India from savings. The interest income is >£2000. Neither the savings nor the interest income have been transferred to UK. I am taxed at source by the Indian banks @30%. Can I claim Foreign Tax Credit Relief on t...
by sushd
Tue Nov 11, 2014 2:15 pm
Forum: International Tax
Topic: UK Tax Liability - on money in Indian NRE/NRO accounts
Replies: 4
Views: 8967

Re: UK Tax Liability - on money in Indian NRE/NRO accounts

Thanks pawncob. Sorry, just realized that I wrote the following wrong!! 4. I was told by an accountant, whom I have spoken to on the phone only, that interest <£2000 in a year need to be declared. Is that correct? Actually, what I mean to write was that he told me that interest <£2000 in a year in a...
by sushd
Tue Nov 11, 2014 1:53 pm
Forum: International Tax
Topic: UK Tax Liability - on money in Indian NRE/NRO accounts
Replies: 4
Views: 8967

Re: UK Tax Liability - on money in Indian NRE/NRO accounts

Strange that you mention overseas income, but don't ask if that should be taxed in the UK? Q2 and Q3 above?? I do not have overseas income from employment / self-employment / business. The money in the NRO account is all the accumulated savings that I had built over the years and the only "income" ...
by sushd
Mon Nov 10, 2014 5:07 pm
Forum: International Tax
Topic: UK Tax Liability - on money in Indian NRE/NRO accounts
Replies: 4
Views: 8967

UK Tax Liability - on money in Indian NRE/NRO accounts

Hi, I have been a resident in UK since 10 years during which I have been employed full time and have never been out of the UK for more than 30 days in any given financial / calender year. I have recently opened 2 types of bank accounts in Indian banks: 1. Non Resident External (NRE) savings account ...

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