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Where Taxpayers and Advisers Meet
Foreign Income Nudge letter
Hello all. I have been sent a nudge letter from HMRC concerning foreign income. I complete a self assessment return every year but have failed to tick foreign income as I was unaware I needed to. Upon reviewing, the only foreign income i think I may have was trading American stocks and shares through a well known online broker for the past 4 years. The gains have always been well below my capital gains allowance of £12300 which I understand would be the correct tax category for any profit made from trading. Dividends have been minimal. The nudge letter asks me to tick a box. I'm unsure whether i need to tick 1. Worldwide Disclosure Facility or tick 2. I have not declared my overseas income and or gains as they are covered by personal allowance or reliefs. Any advice would be much appreciated.
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DavidTreitel
- Posts:273
- Joined:Thu Aug 16, 2012 4:31 pm
Re: Foreign Income Nudge letter
Which of the following items were undeclared?
- Dividends
Interest
Capital gains distributions
Gains taxed to capital gains tax
Gains taxed as offshore income gains?
