Income tax

[Diverbaz 1]

On the tax form you fill in for HMRC it asks you if you have any other income and states not to put down any interest on savings that has had taxed deducted.

[Scunner]

I thought perhaps they meant UK based savings. An expert opinion would be useful - if interest in Turkey is charged at 15% and if you are self employed paying 25% on income, I would have agreed with IanK, that you pay tax on the 'outstanding' 10%.

But I am certainly no expert either. Any experts?

[Lindashams]

Hi, I am sorry I am not an expert but I have completed my Tax Return in the uk for 2011/2012.  As I have an account in Turkey which pays interest and as I am a UK resident I had to fill in the full Self Assessment not the short form.  If you go online I think the relavant pages are F2 and F3, you need to claim Foreign Tax Credit Relief, there is a list countries on the site with appropriate codes, Turkey is TUR. I believe I had to pay an addtional tax in this country of 5% as I had already paid 15% in Turkey.  HM Revenue & Customs calculated the amount I had to pay for me, they must know how much tax is deducted at source in Turkey, I must admit I had to phone them and get them to help to ensure I did not pay too much tax, I also had to look back at the exchange rates as my interest was paid every three months.  I do not know how the system will work if Turkey calculates different deductions of Tax depending on how long you leave your money in for.

I hope this helps!

[casacluggo]

Hi fellow contributers, the responses  to my former question  seem to digress from my original question.. I shall put it another way. Do the Turkish laws have  a taxfree pensionable age  allowance  for all, including foreigners, who are living in Turkey  ie us ?  If so What is it please ? Sorry for being so heavy, but I feel it will be of interest to many for a factual response. Thanks to all.