Reporting Foreign Income

What period to report for foreign income

Didn't find your answer?

I have received an end of year certificate in relation to income from Canada for a client, however the Canadian year runs inline with the Calendar Year. I have had conflicting opinions about what should be reported on the UK Tax return. Do we take the information from the end of year certificate, which gives income for the period 01/01/2023 - 31/12/2023, or go through the bank statemetns and report actual income received for the period 06/04/2023 - 05/04/2024.


My thoughts are we need to report the income received in the UK tax year on a UK tax return, but advice received from others says differently. I cannot find anything that specifically relates to this in guidance from HMRC, so if anyone has thoughts or links to this, they are much appreciated.

Replies (1)

Please login or register to join the discussion.

By pauld
20th Jun 2024 11:39

Should report income in the UK tax year. Canadian tax year irrelevant. Although I do have clients who have US income which is reported on the annual US k1 i.e. to 31 December and use this as impossible to know what income is in final 3 months, but if you are able to find the info use UK tax year.

Thanks (1)