Foreign Tax Credit Relief

Foreign Tax Credit Relief

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Are you able to set off Foreign Tax Credit Relief against UK Dividend tax or is this restricted to the foreign income only?
lynn

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By AnonymousUser
12th Jan 2005 13:05

It is...

...even more restrictive than that because foreign tax on a foreign source of income can only be credited against UK tax computed by reference to that same income.

That means you can't even credit foreign tax on one source of foreign income against UK tax on a different foreign source (let alone a UK source).

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