Your Total Guide To Business

Tax on overseas income#AskAMS

If you are working overseas and pay tax there, you can usually claim what is called a Foreign Tax Credit.

The UK has an agreement with nearly every country in the world, so when you pay tax overseas you can enter it in your Tax Return and the UK tax due can be reduced by the overseas tax paid. However, it is actually more complex than this. According to HMRC guidance notes, you should in fact work out the tax that should have been paid there according to the foreign tax rules. If you have overpaid foreign tax, then you should register in that country and claim back the overpaid tax and only then enter the amount in your UK Tax Return.

AMS Accountancy Ltd

AMS Accountants in Swindon provide a complete accountancy service for small businesses in Wiltshire and a monthly accountancy service for contractors throughout the UK.

Delta 606, Welton Road, Swindon, SN5 7XF

Website Email 01793 818400

More Details

Lydiard Park Hotel & Conference Centre (Animated Ad)

We recommend

How to delay being VAT registered#AskAMS

VAT registration is a problem for small businesses who sell to the general public.

I earn less than £10,000 self-employed. Do I have to register for anything?#AskAMS

Yes, is the short answer. You certainly must sign up for self-assessment with HMRC if you earned more than £1,000 ...

What does the ‘Personal Tax Allowance’ mean?#AskAMS

Every person who is resident in the UK is given a personal allowance each tax year. It operates as follows:

What expenses can be claimed against rental income?#AskAMS

Common expenses that can be claimed against rental income are: mortgage interest - even though there were new rules in ...

How does owning shares in a Company work?#AskAMS

Limited Companies in the UK are generally limited by shares representing the ownership of the Company. So if the Company ...

Some National Insurance payments are voluntary#AskAMS

Generally speaking, you get a bigger state pension for each year in which you pay National Insurance contributions. But sometimes, ...

Tax advantages of a Limited Company#AskAMS

There are 3 tax advantages for small Limited Companies over Sole Traders and Partnerships. There is no National Insurance to ...

Are you a Freelance Contractor?#AskAMS

We’ve worked with 1000’s of Freelancers since 1995 and our clients come from all industries all over the UK.

Doubletree by Hilton Swindon (Animated Ad)

Let's Talk

Tax on overseas income#AskAMS

If you are working overseas and pay tax there, you can usually claim what is called a Foreign Tax Credit.

AMS Accountancy Ltd

Weather in Swindon