RetireJapan

Dear members,

I hope you are all well.

I would like advice / to know about the experiences of people who have been in a similar position to me.

I updated my address with my UK stock broker earlier this year and have just received a tax certificate from them along with information that I have to complete a tax return (SA100).

I have not done this before and would like to know if..
a) it's necessary
b) it's possible to do it myself, or should I get an accountant
c) there are any things I should be aware / careful of before I start the process.

Many thanks in advance for any help you may be able to give.

Hi there,

My stockbrokers told me a couple of years ago that non-residing Britons couldn't hold unit trusts in the UK any longer, which was rather annoying to say the least. I have no experience with declaring dividend income on a UK tax return, but I have done a UK tax return for rental income for about 15 years now, and it is quite pain free. Do you have a gateway account?

Wales4rugbyWC23 wrote: ↑Tue Apr 30, 2024 9:35 pm Hi there,

My stockbrokers told me a couple of years ago that non-residing Britons couldn't hold unit trusts in the UK any longer, which was rather annoying to say the least. I have no experience with declaring dividend income on a UK tax return, but I have done a UK tax return for rental income for about 15 years now, and it is quite pain free. Do you have a gateway account?

Thank you for responding,

No, I don't have a gateway account.

Katana wrote: ↑Tue Apr 30, 2024 11:09 pm

Wales4rugbyWC23 wrote: ↑Tue Apr 30, 2024 9:35 pm Hi there,

My stockbrokers told me a couple of years ago that non-residing Britons couldn't hold unit trusts in the UK any longer, which was rather annoying to say the least. I have no experience with declaring dividend income on a UK tax return, but I have done a UK tax return for rental income for about 15 years now, and it is quite pain free. Do you have a gateway account?

Thank you for responding,

No, I don't have a gateway account.

You will need to open a gateway account to submit a tax return online. This also allows you to see your national insurance contributions over the year, which will indicate how much you can get for the state pension.

UK Japan Tax Treaty
https://www.mof.go.jp/tax_policy/summar ... n-UKEN.pdf

(Dividends)
Article 10-2 refers.

Taxable in the UK at 10% for residents of Japan.

Taxable in Japan
If your Total Taxable Income is less than about Y3.3M, it would be better to use the Aggregate Taxation Method for National Tax and Reconstruction Surtax and Separate Taxation Method for Residents' Taxes.
You cannot use the Japanese Dividend Deduction.

If your Total Taxable Income is more than about Y3.3M, it would be better to use the Separate Taxation Method for National Tax and Reconstruction Surtax and Separate Taxation Method for Residents' Taxes.
You cannot use the Japanese Dividend Deduction.

You can then claim the Foreign Tax Credit in Japan for the 10% tax you paid in the UK.

Thank you Tkydon