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Posted Mon, 04 Dec 2023 04:07:32 GMT by pinjapan
I am a British Citizen but a permanent resident in Japan. I paid into a long-term private investment account in Japan for 14 years but decided I wanted to do something else with the money. The amount was 40k, and I cashed it into my UK bank account this May 2023. I then immediately invested it in property bonds (no interest was received during the time the money was in the UK account). Do I have to pay any tax on the amount that entered my UK bank account? Also, a six-month yield payment of 3k was paid to me last month. Do I have to declare this? The bond will mature and close next May with another yield payment of 3k and a return on the initial investment, a total of 43k. Will I have to declare this? Thank you for any advice you can give.
Posted Wed, 06 Dec 2023 14:57:06 GMT by HMRC Admin 19 Response
Hi,

You can see guidance here:

Tax on your UK income if you live abroad

Thank you.
Posted Thu, 07 Dec 2023 11:58:56 GMT by pinjapan
Thanks. I read through everything but couldn't determine if this applied to my situation. Can you let me know, based on your experience, if I am liable for paying tax on this return of investment in the UK?
Posted Mon, 11 Dec 2023 14:53:36 GMT by HMRC Admin 5 Response
Hi pinjapan

No tax will be due as you will still be entitled to personal allowances to cover the income.

Thank you
Posted Sat, 16 Dec 2023 03:05:00 GMT by pinjapan
Thank you!

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