Transfer money to UK

Hi HMRC team, I worked in France for 3 years and have saved about 20000 GBP in my account. After I move to UK for working from 2023, I obtain some France incomes including salary and interests in the same account. Do I need to pay any tax for transferring my saving from France to UK? Thank you, Chirs

Hi spuchris,
You don't pay tax on the actual capital that is transferred. you may need to pay tax on any interest or dividends that this then generates.
Thank you. 

Hi HMRC, I am UK Tax resident and on arising basis, would like to ask whether I have to transfer all capital money of overseas account to UK? As I don’t want to close my overseas banking account. Thanks.

Hi HMRC I am due to receive a Capital income from a family Trust in Lichtenstein, and I wondered what the tax rules are for this sort of income please? I am resident in the UK.

Hi Lisa,

Your spouse would take 50% of the disposal value and deduct 50% of the acquisition cost when you acquired the property, as well as 50% of the Fees, such as solicitors fees, estate agent fees. This will give your spouse a capital gain.  

If the property became your spouses main residence from the date it was transferred to your wife until the date it was let, you work out the total number of months that the property was their main residence, plus a further 9 months, over the total number of months that you they owned their share of the property.  

You have 60 days from the completion date, to report and pay the Capital Gains Tax, to avoid penalties and interest.  

Have a look at the link below, which includes a calculator and links to the online capital gains service used to report and pay the Capital Gains Tax.  

Capital Gains Tax

If you both have tax to pay, you will each need to create a capital gains account and report your individual gains separately.

Thank you.

Hi Shelly Cunliffe,

You can see guidance here:

Tax on foreign income

Thank you.