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Posted Sat, 31 Aug 2024 08:21:26 GMT by Win CHAN
I am a BNO visa holder and have been UK resident for nearly 4 years. I do not have a job and just have saving interests. I am quite confused on how to calculate the tax even though I have gone through the HRMC website. Assuming I have saving interests which are generated locally and from Isle of Man as well as capital gain from sale of US stocks. I would like to know if my understand is correct if i claim remittance basis for tax purpose. 1. Is saving interest from banks in Isle of Man and proceeds from sale of US stock and the dividends regarded as foreign income? 2. If i claim remittance basis, I understand I will loss my Personal Allowance and well as capital gain allowance. Am I still eligible for saving allowance of 5000+1000?
Posted Wed, 11 Sep 2024 08:49:55 GMT by HMRC Admin 21 Response
Hi Win,
Here is our response to your questions:
1. yes   2. yes
Thank you.
Posted Thu, 19 Sep 2024 10:19:13 GMT by Win CHAN
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