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Posted Mon, 18 Sep 2023 10:21:30 GMT by AsankaSam
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
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.


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