BNO

Hi, HMRC team It is fully understood that pensions from past employment are taxable only in Hong Kong as per the tax treaty. I have been moved to the UK and keep working for my HK employer who will pay me after deducing my HK pension contribution ("net pay") as usual. However, when I file my UK self-assessment return later, should I only report the net pay total amount as my UK income? In other words, does my HK pension contribution from my existing employment in HK also exempt from UK income tax? Regards

Hi I move to Uk last September, do I need pay tax if I transfer money from HK savings account at any time ? That’s not the income, just personal savings from past and money from last year sell my own property before I come to uk

Hi Toby HK T,

You need to report your taxable income so if the pension deduction is taken prior to tax being applied then you would not include the pension amount as part of your income. 

Thank you.

Hi Taco ,

You do not need to declare capital from a bank account if transferred to the UK. Only any interest that arises from this in the account.

Thank you.

Any Tax will be incurred if I transfer my Personal Saving (that already existed before I become a UK resident), including monies in Savings / Currrent or Fixed Deposit Account, from Hong Kong to UK. Provided that I have declared the Interest earned. Say, I have a lump sum of X amount before I first enter UK (take for an example, 1 May). Interest will be incurred from this lump sum and I have already declared the interest earned. I remit this fund (sum X + interest earned) to UK, after 5 years. Will this amount subject to Income Tax or whatever Tax?

Hi,

Foreign income and gains are only taxed in the UK when they, or amounts ‘in respect of’ or amounts ‘representing’ those income or gains, are ‘remitted’ to the UK.

If foreign income and gains remain offshore and are never regarded as remitted to the UK, the tax charge is effectively deferred indefinitely.


Please see guidance here:

Residence, Domicile and Remittance Basis Manual


If the overseas account contains income or gains which have arisen while t/p is resident in the UK there is a potential tax charge when the account is remitted to the UK.

Thank you.

Hi HMRC team, I would like to confirm whether a tax UK resident via BNO visa is required to declare all income from HK before and after becoming a tax UK resident for the fiscal year of 6th April 2021 to 5th April 2022 via Self Assessment tax returns to HMRC or not. I have become a tax UK resident and have not worked since September 2021. I have queries whether I need to DECLARE all my income from overseas to HMRC via personal account Self Assessment tax return for the fiscal year of 6th April 2021 to 5 April 2022 for the following foreign income items even it is not taxable in UK due to DTA or below the personal allowance limit: 1) my salary income from HK for the period of April to August in 2021 and it was taxed in HK in August 2021; 2) pension funds from HK received in September 2021 (as per Article 17 of the tax treaty between UK/HK that pension fund from HK is not taxable in UK) for the fiscal year of 2021 to 2022 in UK; 3) dividend and savings income is < £1300. Please advise if I need to declare the above 3 items to HMRC even it is not taxable in UK or below the personal allowance limit. If yes, is it declare via Self Assessment tax return? which form I need to complete. Regards

Hi,

Please note that all UK residents are required to complete a Self Assessment tax return if they receive foreign income, so please complete a 2022 return and include in the foreign pages details of your HK pension (Article 17 of the UK/Hong Kong Double Taxation treaty notwithstanding).

Please note that you would not however have to include details of the salary you received while you were still resident in HK.

Details of how to register for Self Assessment are provided below.                                                                    

Register for Self Assessment

Thank you.

Hi HMRC team, I moved to UK from HK almost two years. I have 3 questions about my tax return: 1)I start working from the beginning of this year and have received the P60 from my employer. The tax was already deducted from my salary under PAYE. As my total salary was not over the personal tax allowance, can I get refund of tax I paid? Any form I have to fill in to claim back the refund? 2)Last year, I redeemed part of the dividends from my life saving insurance in Hong Kong, and transferred the money to my UK account. As I know the oversea dividends is counted of foreign income, but that dividends was accumulated over 30 years, then how much should I report to HMRC for this foreign income? If the amount is less than £2000, is it not necessary to make the tax return in self assessment? 3)Last year, I have made a capital gain below £1000 from crypto investment. As the gain is less than the capital gain allowance, do I need to report this capital gain? Thank you very much.

Dear HMRC team, I moved to UK last year with BNO visa. As I am currently a full time student, I need to sell my foreign stocks to cover my tuition fee (around £10000-12000). Since I am holding BNO visa, may I ask do I have to report tax for this as my self assessment ? Thank you so much for your help.

Hi
 

v_chan,   You will be entitled to a refund if your total income is below the personal allowance. From the information given, to claim this you will need to submit a self assessment tax return as you have foreign dividends to declare. Anything over £300 for foreign dividneds needs to be on a tax return. The gain only needs to be declared if the actual sale was over £49200. Further infomation can be found at : Self Assessment: detailed information   . Thank you.

HI HMRC Team, Thanks for your reply. I have a further questions about the foregin dividends redeemed from my insurance in Hong Kong. As you say that, over £300 needs to be on a tax return, but how much should I count in the return? The insurance bought over 33 years, and since I moved to UK almost two years, is it 2/33 in prorata basis for the lumpsum of dividends redeemed? Or only counting the dividends distributed in my insurance account in last taxable year? Thank you very much. V_Chan

Hi
 

yim,   Please refer to guidance at : Self Assessment tax returns    . Thank you.

Hi
 

v_chan,

You need to declare the whole amount received. On the return it asks you for the number of years the policy was held for and the system apportions this for you where applicable . Thank you.

I was a civil servant of Hong Kong. I had received salary from the Hong Kong Government for several months after entry into UK with a BNO visa. I would like to know if the salary is taxable in UK under the HK-UK Tax Treaty? Thanks.

Hi mimifefe
Please refer to guidance at :
Tax on foreign income
Thankyou.
Regards.

I had lost my BNO passport in HK. I used my HK SAR passport to enter UK and apply BNO Visa. While I am awaiting for the approval of the BNO Visa, I applied to HMRC to replace my BNO passport. HMRC asked me to find someone who fitted the criteria as listed in GOV.UK to confirm my identity. I requested my friend (retired) who met all the requirements as specified to confirm my identity; however my application was rejected. I contacted HMRC by telephone to enquire. HMRC replied that because the profession that my friend was in before retired was in HK, and hence my application was rejected. The agent said the profession must be in UK. I therefore revisited the subject in the relevant GOV.UK website, it does not have such a condition. I have only been in UK for one and a half year. I do not have a 2-year friend in UK whose profession, as listed in the criteria, is in UK. Can you please advise or give me direction?

Hi,

Sorry, we can only answer questions appropriate to HMRC on this forum.

You will need to contact the Passport Office:

HM Passport Office

Thank you.

My last payroll will be available at the end of the month which I will have arrived UK. In this last payroll. It will include the cash for not taking a annual leaves in this year up to my resignation and last year. Will they taxable given that the split year treatment is applied ?

Hi Keviniu,

Yes, If the payment relates to overseas income from a past employment you can still treat this under the period for Split Year.

Thank you.