I'm hoping you can help me with a couple of questions I have about my tax return. I've been registered as self-employed here in the UK since Jan 2015. Before that I was living, working (also self-employed) and a tax resident in Spain.
It's very low anyway, but do I declare interest on bank accounts from April 2014 as that's the tax year, or only from when I started being self-employed here in the UK?
Do I need to put anything in the foreign income/foreign dividends section? I don't think so as all my income was taxed in Spain, but we did then transfer to the UK for savings etc.
Hi
The self assessment isnt in relation to your self employment alone...its any income that you have received through the business (P&L with the usual adjustments) and personally, so will need to cover the full tax year not just from when you started being s/e.
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Thank you!
I think I need to seek HMRC's advice on the foreign income section - all the money I made in Spain was taxed there so I hope I don't have to pay tax on it again here!
Thanks again :)
Just in case this helps anyone - HMRC agree that I need to declare any interest etc from the full tax year, but not the income from my Spanish income :)
