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Posted Thu, 13 Jun 2024 10:00:41 GMT by Parkview West
I returned to live in the UK in 2019, after many years working abroad. While overseas, I saved funds from my income locally, which was taxed in the country I was working in. Since 2019, I have been tax resident in the UK, and have never been non-domiciled or had tax accounted for using the remittance method. I now would like to bring some of those taxed savings back into the UK. Would I have to pay UK income tax on the funds coming back into the UK?
Posted Fri, 14 Jun 2024 12:42:23 GMT by HMRC Admin 13 Response
Hi
As a UK resident you are liable on your worldwide income.
Any income from abroad would therefore need to be declared whether you transfer the funds to the UK or not. Only the actual capital is tax free but you would declare interest and dividends that this generated.
Thank you

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