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Posted Wed, 12 Apr 2023 09:51:26 GMT by HKF
Hi there, I retired from the Hong Kong Government and I have to pay tax for the monthly pension to the Hong Kong Government. In accordance with the provision of the Double Taxation Agreement and Protocol - Article 17 (UK/Hong Kong), I will not be required to pay tax in the UK. The only income that I receive and may require tax payment in the UK is my savings interest. I would therefore like to know my allowances for earning interest before I have to pay tax on it. These are: 1. My Personal Allowance 2. Starting rate for savings 3. Personal Savings Allowance What is my allowance of the savings interest that is tax-free in each tax year? Shall I need to complete any tax reporting form to HMRC? What is the timeline on submission of these forms? I look forward to your earliest reply. Thanks a lot.
Posted Wed, 19 Apr 2023 09:52:27 GMT by HMRC Admin 5

Guidance on the taxation of savings can be found here Tax on savings interest.  

As your Hong Kong government pension is not taxable in the UK, you do not need to declare it.  

There is guidance on whether a tax return is required here Check if you need to send a Self Assessment tax return.  

This tool will allow you to confirm if a tax return is required.

Thank you.

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