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Posted Tue, 07 Nov 2023 22:19:58 GMT by Boer13
Good day, I am a non-dom UK tax resident, filing returns on the remittance basis. Have been living in the UK for 5 years. I have no overseas income, but I do have savings in the form of pensions (so recognised in the overseas country) which I want to remit to the UK at some time. These savings have been accumulated during years of employment prior to my relocation to the UK, and in compliance with tax legislation in said country. It is not clear to me, if such remittances to the UK will be regarded by HMRC as taxable. In short, a significant part (ca 90%) of this capital existed at the time I first became liable for tax in the UK. Does this mean that the 90% will be regarded Savings (free of tax), and the 10% as Income (taxable), when I remit it to the UK? Thank you!
Posted Wed, 08 Nov 2023 11:02:19 GMT by HMRC Admin 17

Hi,
 
Please refer to guidance at :

Paying tax on the remittance basis (Self Assessment helpsheet HS264)   .


Thank you.

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