How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask taxadvisor.uk Your Own Question

taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4722
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
54961312
Type Your Tax Question Here...
taxadvisor.uk is online now

I have got some foreign dividends this year. they range from

Customer Question

I have got some foreign dividends this year. they range from USA, Netherlands, France and a few others.
When filling gout myself assessment on line, it asks me if I want to claim overseas tax relief and at what rate. I am assuming I do as otherwise I will be double taxed but what rates do I put in?
Are my overseas dividend still eligible for the 10% dividend credit?
thanks
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your question.You need to put an X in the box that states (to claim foreign tax credit relief).Tax deducted at source as shown on dividend voucher would be added to the amount received and you would get a tax credit of max 10% (same as if you had received it from UK company).More information on this can be found on page FN6 of SA106-Foreign notes herehttps://www.gov.uk/government/uploads/system/uploads/attachment_data/file/420047/sa106-notes-2015.pdf I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
Customer: replied 1 year ago.
Many Thanks for your response. The fact sheet you provided details for if I am filling out a paper form and sending it to HMRC. It says 'You do not have to work out the FTCR yourself.
We will do this for you if you complete other
relevant boxes and send your tax return by the
filing date. Only fill in box 2 if you want to
calculate the FTCR yourself. ' but I am filing out the form online and it is specifically asking me to fill in the amount of overseas tax relief I am claiming. How do I know this?
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your reply. You should put in both values .. the dividend received and the value of foreign tax suffered (tax credit on dividends paid) in respective boxes.I hope this is helpful.
Customer: replied 1 year ago.
It hasn't helped I'm afraid, I have put the dividend received in the 'Amount of income arising or received before any tax taken off:'
I have entered the amount of 'Foreign tax taken off or paid'It then asks 'Do you wish to claim foreign tax credit relief' I have ticked yes.It then asks me the 'Rate of Tax Credit relief allowed: and gives me a drop down box with various different % amounts. How do I know which one I need to choose?Thanks
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your reply..The third party software I use just requires me to put an X in the box "To claim foreign tax credit relief put X in the box" and input foreign tax suffered.You say you get a drop down box with various different % amounts.. Can you kindly state what they are or send me an image of the page?The maximum tax credit available is 10%. Many thanks

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
< Previous | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
 
 
 

Meet The Experts:

 
 
 
  • Sam

    Sam

    Accountant

    Satisfied Customers:

    6894
    26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
< Last | Next >
  • http://ww2.justanswer.com/uploads/TA/Tax Expert/2013-8-21_231010_sam.64x64.jpg Sam's Avatar

    Sam

    Accountant

    Satisfied Customers:

    6894
    26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
  • http://ww2.justanswer.com/uploads/BI/bigduckontax/2013-8-12_222058_1.64x64.jpg bigduckontax's Avatar

    bigduckontax

    Accountant

    Satisfied Customers:

    1772
    FCCA FCMA CGMA ACIS
  • http://ww2.justanswer.com/uploads/TA/TaxRobin/2013-8-28_16186_femalebusinessprofessionalbinderhand11038485.64x64.jpg TaxRobin's Avatar

    TaxRobin

    Tax Consultant

    Satisfied Customers:

    464
    International tax
  • /img/opt/shirt.png taxadvisor.uk's Avatar

    taxadvisor.uk

    Chartered Certified Accountant

    Satisfied Customers:

    2596
    FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
  • http://ww2.justanswer.com/uploads/MS/MsAM/2012-6-9_16426_anna.64x64.jpeg Anna's Avatar

    Anna

    Teacher, writer, biologist

    Satisfied Customers:

    268
    Great research skills, variety of work experiences, teaching experience.
  • http://ww2.justanswer.com/uploads/PD/pdheslin/2012-6-6_232056_pambig.64x64.jpg pdheslin's Avatar

    pdheslin

    Consultant

    Satisfied Customers:

    51
    20+ years of internet site creation and search engine optimization. Dozens of search tools at my disposal.
 
 
 

Related Tax Questions