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Posted Fri, 06 Sep 2024 17:06:54 GMT by James Ward
Hello everyone, I was employed in Saudi Arabia for the past two years and have recently returned to the UK following the completion of my project. I am a landlord of two properties and have already filed a tax return for the previous year. I currently have over £65,000 in savings that I would like to transfer to a UK account. My intention is to use these funds to either purchase a property or relocate from my parents' home. Given my current unemployment status, I am uncertain whether I will be subject to UK income tax upon transferring the funds. Any light shed on the subject would be gratefully received.
Posted Fri, 13 Sep 2024 10:43:17 GMT by HMRC Admin 21 Response
Hi James,
You will not be liable on the transfer of the actual capital but you will need to declare any interest or dividends that this then generates.
Thank you.

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