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Posted Thu, 09 Nov 2023 08:23:46 GMT by
Hello. My husband and I will move to UK and through BNO Visa. We're wondering if we TT our saving in UK, is there any tax we need to pay? Please help.
Posted Fri, 10 Nov 2023 15:12:59 GMT by HMRC Admin 5 Response
Hi

Once you move to the UK, you will become taxable on your world-wide income in the UK.  
If you transfer your overseas savings to a UK bank account, you would only be taxable on the interest that the capital will generate.
Whether that is for the full tax year or from the date you arrived in the UK, will depend on the outcome of the statutory residence tests.  
Guidance on the tests can be found at RDR3 Statutory Residence Test.

Thank you

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