Simplifying the Taxation of Offshore Interest
We are seeking views on how we can simplify the taxation of offshore investment income to help taxpayers and to improve the efficiency of HMRC’s compliance work.
Detail
This discussion document explains the challenges arising from information on offshore interest being provided on a calendar year basis rather than a UK tax year basis.
We welcome views on how to address these challenges, including the option of taxing individuals on non-UK interest arising in the year ended 31 December in their self assessment tax returns.
Documents