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Posted Mon, 30 Dec 2024 18:26:30 GMT by Huseyin Oner
Hi, I have some money abroad in a country which has a treaty with the UK to avoid double taxation and prevent fiscal evasion with respect to taxes on income and capital gains. The money I have are my savings which all earned before i became a tax resident in the UK. I do not receive any interest to this money abroad. I would like to bring this money to my account in the UK. Am I going to be subject to an income tax or any other type of tax? Thank you.
Posted Fri, 10 Jan 2025 09:50:25 GMT by HMRC Admin 19 Response
Hi,
There are no Income Tax implications for transferring savings to a UK bank account unless they generate interest or dividends. These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Tax on dividends
Thank you.
 

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