Help on Self Assessment Tax Return regarding Foreign Interest

warehouseman

I have a small share investment plan with Weathify. On their end of year information, it says the plan received a small amount of untaxed 'foreign interest' (under £10). On my tax return it says to put in the stated amount (not a problem), and then it asks me to put the name of the country where the interest arose in 'any other information'.  Unfortunately Wealthify documentation doesn't supply this information and instead says it comes from an ''overseas collective investment scheme''. Do I simply state that or will it confuse matters? Weathify on the phone couldnt advise.

lr1277

If memory serves (and happy to be corrected), there are two places on the return where you enter foreign income.

One is dividends where you also have to enter the country from where the money came.

I think under savings interest, there is a box for foreign interest. 

warehouseman

Yes, thanks that is correct and I've already filled in those boxes.
The problem is, it then asks me to ''name the country'' where the interest came from, and place this information in the ''any other information box''
All wealthify can tell me is that it came from an 'overseas collective investment scheme' ...but they cant tell me the country!!!

wmb194

warehouseman said:

I have a small share investment plan with Weathify. On their end of year information, it says the plan received a small amount of untaxed 'foreign interest' (under £10). On my tax return it says to put in the stated amount (not a problem), and then it asks me to put the name of the country where the interest arose in 'any other information'.  Unfortunately Wealthify documentation doesn't supply this information and instead says it comes from an ''overseas collective investment scheme''. Do I simply state that or will it confuse matters? Weathify on the phone couldnt advise.

In my experience Wealthify mostly (only?) uses Irish domiciled ETFs so I'd put Ireland: its country code is IRL.

The other option is most likely to be Luxembourg, LUX, but for <£10 - or even a lot more - HMRC won't care if it's incorrect. What matters is that it's been declared.

You should be able to look at your portfolio and work it out. Google the names or look to see if Wealthify e.g., links you to their factsheets and Kiids and you should find their ISIN numbers. Those prefixed "IE" are domiciled in Ireland and those "LU" are Luxembourg.