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Posted Mon, 05 Dec 2022 18:44:29 GMT by Asit Gupta
Hi I am UK tax resident, non domiciled, Indian passport holder I have some UK income but to support my living costs I also transferred money from my overseas account to my UK account. I have two questions 1 Is this transfer to be declared in the income tax return ? 2 Is this transfer subject to tax? Thanks
Posted Thu, 08 Dec 2022 12:39:39 GMT by HMRC Admin 32

Transferring savings from a foreign bank account to a UK bank account is not subject to tax and there is no requirement to declare this.  

If the money transferred to the UK is income arising in the tax year, for example, employment income, self employment income, bank interest, divident income and so on, then this income may be subject to tax.  

Thank you.

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