BNO

Hi tim,
The Hong Kong old age allowance is not taxable in the UK.
If the Hong Kong severe disablement allowance is similar in nature to the social security benefits described at:
EIM76100:
EIM76100 - Social security benefits: list of non-taxable social security benefits
Then it is not taxable in the UK.
Thank you. 
 

Hi Raymond Wong

Please refer to guidance at Paying tax on the remittance basis (Self Assessment helpsheet HS264)

Thank you
 

hi. i left HK in 2021, to the UK. As part of my departure from HK my MPF was cashed out. This is my pension entirely from work in HK. i have now recieved a letter from HMRC asking me to declare this income. As per the HK UK treaty and earlier posts in this forum I believe this is not taxable? Is that right, and how do I declare this income, assuming its not taxable? Thanks!

Hi jonah ross

The mandatory provident funds are not taxable in the UK, however, you are required to declare your world-wide income; so in the interests of full disclosure, you only need to mention the MPF in the free hand text box, to declare it and ensure it is not included in any calculations.

Thank you
 

Hi HMRC Admin, I moved to UK since NOV 2022, my oversea bank interest didn't exceed £10,000, so I didn't register Self Assessment. I had sell some shares in 2023 but the total gains are less than the tax-free allowance £6,000 and the total amount I sold for was less than 4 times the allowance (£24,000). Based on my understanding from https://www.gov.uk/capital-gains-tax/work-out-need-to-pay , I don't need to report any tax return. Is that correct? If I need to send tax return, shall I register Self Assessment to do so? Please advise. Thanks.

Hi,

If you received overseas interest between November 2022 and 5 April 2023 you should register for Self Assessment and complete a 2023 return, as 'in receipt of overseas interest' is one of the Self Assessment criteria.              

Check if you need to send a Self Assessment tax return                                

Tax on foreign income                                                                  

Thank you.

I will be landing UK on 12/5/2024 using BNO visa. I will receive a lump sum of provident fund from my past employment on 16/5/2024 i.e. after I landed UK. May I ask if the provident fund is taxable in UK? Or is it under the Double Taxation Agreement that this is not taxable in UK?

Hi
The provident fund is not taxable.  Hong Kong government pensions and other pensions are taxable only in Hong Kong.

Hi! I would like to know if I still keep an quantitative amount of HKD in my Hong Kong saving account which was my capital from past few years. I plan to transfer to my UK account. Please confirm if this is not taxable except the interest generated? Thank you!

I received my last income from my past employer in HK after I arrived UK. I am currently a UK tax resident My questions are: 1) Do I need to report this income as foreign income in my UK self-assessment? 2) Since this income arised from my past employment in HK, it should be subject to HK tax. Based on double tax treaty, it seems the HK income has no tax liability in the UK. So, if I report this income in the UK self assessment, can I claim any tax credit for this amount? if so, which form I have to fill in?

Hi Nella,
As this income was earned through a Hong Kong based employer, while you were resident in Hong Kong, means that this income is only taxable in Hong Kong, even if your were in the UK at the time you received it.
It should not be included in a tax return, other than as a freehand note in box 17, page TR7 of SA100.
Thank you.

Hi HMRC Admin 25, With the announcement of Spring Budget 2024, ending of the current rules for non-UK domiciled individuals will take effect from April 2025. As I plan to move to UK under the BNO(VISA) scheme in 2024/2025, being a non-dom, is it the case that I will need to pay personal income tax for income earned outside UK during 2024/2025? However, for 2025/2026 to 2027/2028 (the remaining 3 years of the 4-year period), I will not need to pay tax on my overseas income if I have my nonb-dom status (with no personal allowance and capital gain allowance entitled in UK). Is this correct? Thanks. Jones. The government is introducing a new residence-based regime taking effect from April 2025. This is the latest modernisation of the non-dom regime, following the government’s 2017 reforms which abolished permanent non-dom status. The government’s new approach will ensure we remain internationally competitive and attract the best international talent. New arrivals to the UK will benefit from 100 per cent UK tax relief on foreign income and gains for the first four years that they are tax resident here, and there will be transitional arrangement in place for current non-doms. Those who have established ties with the UK and benefit from our public services should contribute accordingly. Therefore, under the new system anyone who has been tax resident in the UK for more than four years will pay UK tax on any foreign income and gains, as is the case for other UK residents.

Hi,

The new rules take effect from 6 April 2025, which is the 2025 to 2026 tax year. This means that for the 2024 to 2025 tax year, the current rules on residence will continue to apply. You would need to review the guidance at RDR3 and take the statutory residence test, to determine your residence status.

RDR3: Statutory Residence Test (SRT) notes

You may also need to consider whether split year treatment applies. This will help you complete a Self Assessment tax return to declare UK and worldwide income.

Thank you.




 

Hi there! I am the pensioner of the Hong Kong Special Administration Region (HKSAR) and now living in UK being the holder of BNO visa. According to UK/Hong Kong Double Tax Treaty (i.e. Treaty 35) and DT9207, stated that pensions arise in Hong Kong are taxable ONLY Hong Kong. Therefore, there is no liability to UK tax for a Hong Kong pension received by a UK resident after 5 April 2011. Except bank saving interest (both UK and Hong Kong), I have no other investment (including oversea investment). Due to soaring of bank saving interest last year i.e. 2023, I have earned the annual saving interest around 7,000 pounds. In this connection, I wish to know the amount of saving interest allowance in view of no taxable income in UK, do I need to complete the Self-assessment tax return for the year of 2023 to 2024? Thanks.

Hi, I am the BNO visa holder from Hong Kong moved to UK one year, I have two question about the cash gift. Question 1, My family are planning to move to UK as the same situation as me, if they transfer money to me for buy a property in UK would I need to pay tax and what is the maximum limit for the cash gift before paying tax? Question 2, If a transfer my own money from Hong Kong to UK, do I need to pay any tax and what is the maximum limit? Much thanks,

Hi Lexus2047,

As you have stated some of the interest is from Hong Kong, you need to complete a tax return.

Thank you.

Hello, my dad has retired and is residing in the UK. However, he still receives pensions from HK. My understanding is that under the double taxation treaty, pensions arise from HK are only taxable in HK. Could you please clarify and advise if his pension received in HK needs to be declared by filing the self assessment? Also, would there be any tax implications if he transfers the pension monies from his HK account to the UK account? Thanks

Hi BenCch

There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends and no limit on how much you can bring to the UK.
These would then potentially be subject to tax. Further guidance can be found here (Tax on savings interest and Tax on dividends).  

Thank you
"

Hi Sandy,
Article 17 of the UK / Hong Kong tax treaty here:
UK/HONG KONG DOUBLE TAXATION AGREEMENT AND PROTOCOL 
Advises that pensions and social security pensions, arising in Hong Kong, from employment or self employment in Hong Kong and paid to a resident of the UK, are only taxable in Hong Kong.
As the pensions would not be taxable in the UK, there would be no tax implications from the transfer of the pensions into a UK bank account. If the pensions attract interest, whether in the UK or not, this is taxable in the UK.
See article 11 on interest.
Thank you. 

 

Dear Sir/Madam, I have a BNO visa. For year 2021/2022 and 2022/2023, I hadn't submitted tax return form/self assessment form (hard copy or online) /hadn't done declaration because I arrived UK in 2021 and was unemployed during first 2 years and my releavant annual income was below £12570 at that year. Will it affect my application for Indefinite leave to remain and subsequent British Citizenship? Or I need to follow-up/ immediate arrange to submit the self assessment forms asap for year 2021/2022 and 2022/2023? Please advise, many thanks!