I have an account (Fidelity) in the US which holds my US shares and dividends. I am resident in UK. When I fill in my UK self assessment I usually declare the dividends as foreign income and calculate the total amount received during the last tax year using the US/UK exchange rate.
However, I am beginning to wonder whether this is correct. Do I have to declare the dividends as foreign income even though I have not yet transferred the dividends into a UK account. In other words do I pay UK tax when I am paid the dividend in the US or only when I transfer the dividend from the US account to the UK ?
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