Skip to main content

beta This is a new service – your feedback will help us to improve it.

Overseas savings + UK earnings and taxation

Posted Sun, 17 Sep 2023 08:14:51 GMT by
Dear team An individual earns £9400/year in UK from a part time job for year 2023-24. The same person earns interest from fixed deposits and savings from an overseas bank which is about £4700. 1) Am I correct in saying that it does need declaring in SA under foreign income? 2) Am I corrct to conclude that the individual would not incure any tax as overseas savings income as it is less than starting rate for savings of £5000 for year 23-24?. Thank you.
HMRC Admin 25
Posted Wed, 27 Sep 2023 07:41:25 GMT by HMRC Admin 25
Hi TaxFinZero,
You are correct.
Thank you. 
 
Posted Tue, 03 Oct 2023 19:58:15 GMT by
Thank you HMRC Admin 25

You must be signed in to post in this forum.