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Posted Tue, 28 Mar 2023 01:07:52 GMT by Derek Galpin
I am returning to the UK after 30 years Are funds that I transfer from my foreign bank to my UK bank taxable?
Posted Fri, 31 Mar 2023 11:05:12 GMT by HMRC Admin 19
Hi,

Income and gains arising outside the UK, in tax years where you are not resident in the UK, are not taxable in the UK.  

If all of the funds being transferred meet this criteria, then there is no tax liability on transferring the funds to the UK. If any of funds being transferred arise in the tax year in which you return to the UK, then the income and, or gains arising in that tax year, may be subject to tax in the UK.  

You can see guidance here:

https://www.gov.uk/government/publications/residence-domicile-and-remittance-basis-rules-uk-tax-liability

Thank you.

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