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[email protected], Accountant
Category: Tax
Satisfied Customers: 623
Experience:  Executive Director at [email protected]
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Resident. I sold an insurance a few years back to which I

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I am Uk Portuguese resident. I sold an insurance a few years back to which I paid tax in Portugal to cover the gains which amounted to 9000 Euros. Now I have received a letter from HM Revenue & Customs regarding income or gains. As I have the mount requested by the tax office in Portugal I am confused why I am asking for this. What should I do? I clearly don't want to have to pay again.
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Customer: How much is involved?
JA: What are the assets or property for this capital gain?
Customer: 39000 Euros
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: No.

Hi, welcome to JustAnswer. I'm [email protected], a UK-Qualified Chartered Certified Accountant with over 15 years of experience. I'll be answering your question today.

There is no need to be stressed. The UK has a double taxation treaty with Portugal. So any overseas income will not be double taxed in the UK
Customer: replied 15 days ago.
Are you familiar with both UK and Portuguese tax laws?

Are you familiar with both UK and Portuguese tax laws?

No. I can only advise you on the UK tax requirements.

As a UK resident, all overseas income must be declared on your self assessment tax return under the "Foreign" income section.

You will declare the amount earned and tax paid on it in Portugal

You will also put an X in the box that says "Claim Foreign Tax credit relief". Once the return is submitted, HMRC will assess your circumstances and issue a releif under the double taxation treaty.

The letter you have received is generally issued to everyone who has overseas income that has not been declared in the UK

[email protected] and 2 other Tax Specialists are ready to help you

I hope I've answered your question? If, however, any part of my response is unclear, please do let me know and I'll try to explain it further.