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bigduckontax, Accountant
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How to declare investment income on Self-Assessment form?

Resolved Question:

How to declare investment income on Self-Assessment form?
Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
I've made a agreement to loan an amount of money to my employer (financial company). They pay me an interest quarterly without withholding any tax. How I should declare this on self-assesment form?
Expert:  bigduckontax replied 1 year ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

You will find the relevant boxes for completion on the SA100. They are the first items under 'Income' at the beginning of the form and cover most investment income. If you have property or foreign income you will will have to complete SA105 & SA106 respectively too.

I do hope that you have found my reply of assistance.

Customer: replied 1 year ago.
I just realized that I omitted a crucial detail, sorry. My loan agreement is with a US-based Delaware-registered company. Does this make any investment income received from them "foriegn" (even though i receive it in the UK in GBP)?
Expert:  bigduckontax replied 1 year ago.

Yes it is foreign income. I had exactly the same thing happen to me some years ago with one stock market investment. HMRC drew my attention to the situation and corrected it anyway so I got it right the next year. It didn't, as my old boss was wont to say, alter the price of cheese in any event!

bigduckontax and other Tax Specialists are ready to help you
Expert:  bigduckontax replied 1 year ago.

Thank you for your support.