1292 - Taxable amount

Please enter the gross amount of income (before any tax has been taken off) which you reported elsewhere and on which foreign tax has been paid.

Please provide details in the 'Any other information' field at the end of the 'Fill in your return' section where on your Tax Return this income is included (for example, Employment page. If more than one page, please specify which ones, for instance Self-employment, Partnership, UK Property or Capital Gains Summary pages.)

If you have a business in the UK and the gross receipts of the business include income on which you have paid foreign tax you will need to work out the amount of overall profits that came from the overseas receipts.

If the source of income is the overseas branch of a UK business, please enter the gross profits earned by the branch and keep a copy of the branch accounts as HM Revenue and Customs may ask you for a copy.

In certain circumstances if your business basis period for 2017 to 2018 overlaps with your basis period for 2016 to 2017 you may be able to claim foreign tax credit relief on the profits for the overlap period even though relief for the same tax may have already been allowed in working out your tax liability for 2015 to 2016.

For more information go to Help Sheet 260 - Overlap.