Skip to main content

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

Posted Mon, 18 Sep 2023 10:21:30 GMT by
Hi, I moved to UK under Tier 2 visa in February 2023. I had about £10000 saved up in a personal savings account by the time I travelled and I'm planning to remit this to UK for the purpose of buying a house. However this account had accrued interest during the past 6 months. I understand that the interest earned will be taxed in UK if I remit it, but if I remit the balance which I had upto 31st January 2023 to UK do I still have to pay tax?
Posted Wed, 27 Sep 2023 12:08:28 GMT by HMRC Admin 10 Response
Hi
You will not be taxed on the actual capital that you have transferred but you will need to declare any interest or dividends that this then generates.

 
Posted Thu, 14 Nov 2024 16:43:05 GMT by Shishirjayant
WarningThis post is currently being moderated and will be visible when it has been approved by a HMRC moderator.

You must be signed in to post in this forum.