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- If you are employed or running a business here in the UK and you also have any type of foreign income that is income from overseas, then youll probably want to know how your foreign income is treated for tax purposes. In this video, I will cover a refresher on Tax Residency. How are you taxed if you have foreign income? What exactly are Double Tax Treaties? When can Double Tax Treaties or Relief be claimed? And a finally section. Before I get into todays video, be sure to visit our Accounting and Tax Academy membership area where you can get access to exclusive in-depth courses, templates, calculators and a members QA section where you can get your specific accounting and tax questions answered by a qualified accountant or chartered tax advisor. (light music) Theres a common misconception that your residency of a country that is your citizenship determines your tax residency. Just because you hold a British passport for example or are eligible for one does not necessarily mean y