self assessment - Interest on UK Stocks

MarcoM

Hello,

Where should the interest on UK stocks received be recorded on the tax return?
Do I need to add this to the interest received from savings account?

many thanks for your help

dunstonh

Where should the interest on UK stocks received be recorded on the tax return?

UK stocks do not pay interest.  They pay dividends.

Do I need to add this to the interest received from savings account?

No.  Only the interest on fixed interest securities domiciled in the UK get added to interest.

Are you using an investment platform? 
What is the breakdown (category and amount) from the consolidated tax voucher if from a platform?
What is the breakdown (category and amount) from the totals of each tax voucher, if not using a platform?

wmb194

dunstonh said:

Where should the interest on UK stocks received be recorded on the tax return?

UK stocks do not pay interest.  They pay dividends.

Yes, they can. I'll give you a recent example, ASLI. Reits are particularly want to pay them.

"Of this second interim distribution declared of 1.20 pence per Ordinary share, 0.95 pence (equivalent to 1.11 euro cents) is declared as dividend income with 0.25 pence (equivalent to 0.30 euro cents) treated as qualifying interest income."

https://www.londonstockexchange.com/news-article/ASLI/second-interim-distribution/15594123

MarcoM

dunstonh said:

Where should the interest on UK stocks received be recorded on the tax return?

UK stocks do not pay interest.  They pay dividends.

Do I need to add this to the interest received from savings account?

No.  Only the interest on fixed interest securities domiciled in the UK get added to interest.

Are you using an investment platform? 
What is the breakdown (category and amount) from the consolidated tax voucher if from a platform?
What is the breakdown (category and amount) from the totals of each tax voucher, if not using a platform?

Copied and pasted below from HL tax certificate:

SCHEDULE OF INTEREST ON UK STOCKS

The amounts shown in the interest paid and income tax boxes should be shown separately in your tax return. Please keep this certificate as it

will be accepted by HM Revenue & Customs as evidence of income tax deducted at the rate of 20%.

Pay Date Stock Description Holdings

(no. of shares)

Rate (pence) Income Tax (£) Interest Paid (£)

30/06/2021 HICL Infrastructure plc ORD GBP0.0001 5,923.000 2.02 0.00 120.15

30/09/2021 HICL Infrastructure plc ORD GBP0.0001 5,923.000 1.00 0.00 59.79

31/12/2021 HICL Infrastructure plc ORD GBP0.0001 5,923.000 1.21 0.00 71.99

31/03/2022 HICL Infrastructure plc ORD GBP0.0001 5,923.000 1.42 0.00 84.19

Total 336.12

I also have overseas income as listed below from HL tax certificate. I was going to add this to overseas dividends?

SCHEDULE OF OVERSEAS INCOME

The amounts shown in the income received and overseas tax boxes should be shown separately in your tax return. Please keep this certificate

as it will be accepted by HM Revenue & Customs as evidence of overseas tax withheld.

Pay Date Stock Description Tax

Country

Code

Holdings

(no. of shares)

Equalisation

(£)

Overseas Tax

(£)

Income

Received (£)

31/12/2021 The Renewables Infrastructure Group Ord GGY 17,466.000 0.00 0.00 295.18

31/03/2022 The Renewables Infrastructure Group Ord GGY 17,466.000 0.00 0.00 295.18

Total 590.36

wmb194

MarcoM said:

Hello,

Where should the interest on UK stocks received be recorded on the tax return?
Do I need to add this to the interest received from savings account?

many thanks for your help

There's a section for 'any other UK interest, interest from gilt edged and other UK securities'. Put it there.

wmb194

Correct re TRIG's dividends being 'overseas dividends.' It is domiciled in Guernsey so the country code is 'GGY.'