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Posted Sat, 13 Jan 2024 03:11:02 GMT by
Dear Sir/Madam, I live in Hong Kong and am not a UK resident. I have an bank account in HSBC Expat, which is an offshore bank to the UK. I earn savings interest over £10000 annually and do not have any other income from the UK. Should I have to report to the HMRC and pay tax? Thank you.
Posted Wed, 17 Jan 2024 11:04:04 GMT by HMRC Admin 5 Response
Hi

Although this will be considered disregarded income, you will meet the criteria for completing a Self Assessment tax return.

Thank you
Posted Sun, 03 Mar 2024 00:27:34 GMT by Conor2014
Dear HMRC In the above scenario, isn't the income considered foreign income and therefore no tax return submission is required, no matter the amount of interest? Regards.
Posted Tue, 05 Mar 2024 12:46:28 GMT by HMRC Admin 8 Response
Hi,
If you are not UK resident and have non UK interest, this is not taxable in the UK.  
If you do have UK interest and you are not resident in the UK, you would need to complete a tax return, where your interest from savings and investments exceed £10000.00.
Thank you.

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