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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15940
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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If you have a small annuity out of country and no part of it

Resolved Question:

If you have a small annuity out of country and no part of it has come into the UK , is it taxable at all?
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi.

Can you tell me whether you are a UK national or a national of another country please.
Customer: replied 2 years ago.

Uk national

Expert:  TonyTax replied 2 years ago.

Thanks.

If you are a UK national, you are taxable on your worldwide income and gains whether you bring them into the UK or not if you are tax resident in the UK and the tax treaty between the UK and the country of origin of the annuity does not limit its taxing to the country of origin.

If foreign tax is deducted from the foreign income, you may be able to claim relief for it against your UK tax liability if there is a double tax treaty between the UK and the country of origin of the annuity.

Take a look here for confirmation of the tax treatment of foreign income.

I hope this helps but let me know if you have any further questions.

Customer: replied 2 years ago.

Your answer has helped me a great deal. I shall not require any more information. Please cancel my subscription set up earlier today. I will just pay the £27 for this answer you have just given. Thank you

Expert:  TonyTax replied 2 years ago.
Thanks.

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