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Posted Tue, 22 Nov 2022 14:45:57 GMT by HMRC Admin 17 Response

Hi
 
Dcyc0001,
 
Savings are not classed as income and are not subject to tax. 

Any interest, arising from those savings, is classed as income and is taxable. 

There would be no tax liability in transferring savings from a HK bank to a UK bank.

Any interest transferred would be taxable.

Thank you.
Posted Wed, 30 Nov 2022 16:01:01 GMT by Siuman011
I came to UK on 25 Feb 2022 via BNO visa. After 183 days, I have been a tax resident. I only have the pension from Hong Kong Government as my main income in UK. Under UK/Hong Kong Double Taxation Treaty DT9207 Article 17, stated that pensions arise in Hong Kong are taxable ONLY in Hong Kong. Will this income therefore need to be declared under self assessment of the year 6 April 2021 and 5 April 2022?
Posted Thu, 01 Dec 2022 08:53:24 GMT by
Hi, We have recently arrived in the Uk using the BNO visa. We were not tax residents in the past tax years. Based on the residency test, to the best of my knowledge, we believed we are not tax residents yet. I have some questions Q1. At the time of writing as a non tax resident, if we have some offshore bank accounts with HKD accumulated from previous work and savings in HK, and if we convert HKD to GBP and transfer it to a UK bank account, would that create any tax liability? Q2. Similar to Q1. If we do the same currency conversion and money transfer AFTER we become tax residents, would that imply any tax liability? For example, if there is any tax liable and we believe we will become tax residents on 1 Jan 2023 and we only do the currency conversion and transfer on 1 Feb 2023, how would the capital gain tax be calculated? That is, from when does it define the base value of the asset? Q3. If the offshore bank account already has some GBP before becoming tax residents and if I want to transfer the GBP to a uk bank account, does it matter if I am or am not a tax resident in terms of tax implications? Q4, if I have an offshore bank account with previous income and gains from HK, and I become a tax resident on 1/1/2023, does that mean only the interest income incurred after 1/1/2023 would be subject to income tax if I transfer the money to a UK bank account?
Posted Fri, 02 Dec 2022 14:48:33 GMT by HMRC Admin 32 Response
Hi Siuman011,

No, you do not declare this to the UK.

Thank you.
Posted Fri, 02 Dec 2022 15:04:07 GMT by HMRC Admin 32 Response
Hi NewJoiner,

Please refer to guidance here:

Tax on foreign income

Thank you.
Posted Fri, 02 Dec 2022 15:18:48 GMT by
Hi, based on the document, I am still not sure about the answer to the above 4 questions. Can you help address them please?
Posted Wed, 07 Dec 2022 16:38:45 GMT by Siuman011
Recently, I have clarified that my pension received from Hong Kong Government is not required to declare to the UK. However, I have previously contacted HMRC to register for Self Assessment, have received the letter for set up a Self Assessment record. It is stated necessary to complete a tax return. As the pension from Hong Kong Government is my only income, do I need to complete the tax return?
Posted Fri, 09 Dec 2022 09:44:24 GMT by HMRC Admin 19 Response
Hi siuman011,

As the pension is only taxable in Hong Kong and this was the only reason for Self Assessment, you do not need to complete the return. You should contact the Self Assessment team to have the record closed.

Self Assessment: general enquiries

Thank you.
Posted Tue, 13 Dec 2022 14:16:08 GMT by HMRC Admin 2 Response
Hi NewJoiner,

This will be based on your actual tax residence and is covered in the link provided.

Tax on foreign income

Thank you.
Posted Sat, 17 Dec 2022 06:53:35 GMT by
Hi. I am retired HK civil servant with BPS 50,000 annual pension and HK net annual rental income of BPS 25,000. Please kindly advise how HMRC calculate my UK tax.
Posted Wed, 21 Dec 2022 11:04:52 GMT by HMRC Admin 32 Response
Hi,

Please refer to guidance here:

Tax on foreign income

Thank you.
Posted Wed, 21 Dec 2022 17:04:15 GMT by Chris Lo
Hi Admin, I am a BNO visa holder and have arrived UK on 10 Sep 2022. I would like to know: 1. I will stay for more than 183 days on 5 Apr 2023. So am I a tax resident in the year 2022-2023? 2. I have quitted my job on 31 Aug 2022 before I arrived in UK. To the salary before 31 Aug, I have cleared the tax in Hong Kong. Is that salary taxable to UK as I gained it before arriving in UK? 3. If I am a tax resident in UK in the year 2022-2023. Is the interest income from savings, in the period before I arrived in UK, taxable? Thank you very much for your advice.
Posted Thu, 22 Dec 2022 12:59:18 GMT by HMRC Admin 32 Response
Hi,

You will need need to review the guidance at RDR1 and apply the tests at RDR3, to determine your residence status. If you are deemed resident for the full tax year, then you will need to convert your Hong Kong earnings and tax deducted into pounds sterling and declare on a Self Assessment tax return. If split year treatment applies, you would only declare your UK income from your date of arrival.  

Residence, domicile and the remittance basis: RDR1

Thank you.
Posted Sat, 11 Mar 2023 22:28:28 GMT by
My wife has a BNO passport. I moved to UK (as dependent) with my wife and daughter in Dec 2022. Our BNO visas were issued in June 2022. As I have not quitted my job in Hong Kong, I have to go back to Hong Kong and will resume duty in March 2023, but my wife and daughter will continue staying in UK permanently under the BNO visa route. My question is - Will I be liable to UK tax in 2023/24 if I work in Hong Kong for the WHOLE 2023/24 tax year? According to HMRC, one can apply to HMRC and claim remittance basis for the income if he/she is UK resident but non-UK domicile, and as to whether one will be treated as non-UK domicile is subject to SRT test. I read RDR3: Statutory Residence Test (SRT) which provides that, if you have been in the UK for 183 or more days you will be a UK resident. There is no need to consider any other tests. And one will be resident in the UK for a tax year and at all times in that tax year if: - He or she does not meet any of the automatic overseas tests - He or she meets one of the automatic UK tests or the sufficient ties test In light of the SRT Notes, I think I should not be considered UK resident for tax purpose for the 2023/24 tax year, reason being: 1. I have been in the UK for LESS than 183 days in the 2023/24 tax year, AND 2. I meet the third automatic overseas tests as I worked full-time in Hong Kong over the 2023/24 tax year and I will spend fewer than 91 days in the UK in the tax year, there was no break from my work in Hong Kong and I never worked in UK during the 2023/24 tax year. Please advise if my understanding is correct.
Posted Wed, 15 Mar 2023 05:16:44 GMT by
Under SRT, if you stay in a UK home for more than 30 aggregate days during a 91 consecutive days period and you do not stay in an overseas home for more than 30 aggregate days during the 91 consecutive days period, you are still be treated as UK resident, even you stay in the UK less than 183 days in that tax year
Posted Wed, 15 Mar 2023 15:44:31 GMT by HMRC Admin 32 Response
Hi Wai Wai,

On the basis of the information provided, your understanding of the UK's residency rules (as detailed in the SRT) is correct.                                

RDR3 Statutory Residence Test  

Thank you.    
Posted Sat, 01 Apr 2023 19:47:26 GMT by
I am bno visa Hong konger. I arrived in Uk for one and half year. I claim myself as non domicile and apply remittance basis for self assessment. I received my Hong Kong provident fund recently. If I remit the fund to Uk . Do I need to pay tax
Posted Thu, 13 Apr 2023 10:52:54 GMT by HMRC Admin 19 Response
Hi,

No, this particular income is only taxable in Hong Kong.

Thank you.
Posted Sat, 29 Apr 2023 09:56:16 GMT by kcchung chung
do I need to declare my foreign income earned before I have become a tax resident in a tax year?
Posted Fri, 05 May 2023 13:03:04 GMT by HMRC Admin 5 Response
Hi kcchung chung

If you qualify for split year then you only report any foreign income for the UK part of the year please see RDRM12000 - Residence: The SRT: Split year treatment: Contents

If you do not qualify then you will need to report all your foreign income to the UK, see guidance here Tax on foreign income

The guidance at RDRM12150 at www.gov.uk will help you work out if split year treatment applies.

Thank you.
 

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