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Posted Sat, 05 Oct 2024 12:18:15 GMT by Yuri
Dear HMRC, I am an Italian national with UK settled status. I lived in Italy a few years and I will move back to the UK next month. I would like to transfer to the UK some of my italian savings (around £30,000). Do I have to declare anything to HMRC or to my bank? Thanks for your help, Yuri
Posted Fri, 11 Oct 2024 12:58:57 GMT by HMRC Admin 33
Hi,
There would be no income tax implications on this unless you have previously claimed the remittance basis on this income
that you are now bringing into the UK.
If the money generates any interest in a bank however, this would be reportable for tax purposes.
Thank you.
 

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