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Posted Mon, 30 May 2022 20:49:17 GMT by hovig.lindse
I am working here in the UK and holding a Skilled worker visa at the moment. Indian by nationality. Do I need to pay any tax for the below scenarios? If yes, then I would like to the UK tax rules/processes which I have to follow (if there is any) while transferring money from India to the UK via online money transfer sites. Also would like to know if there is any slab or upper limit or something else. Source of funds are as below, Scenario 1 :- Money is earned in the UK (from salary and paid the tax for the same) and sent to India. Now I want it back here in the UK. Scenario 2 :- Provident Fund (received in India) received from my previous employer. Already paid the tax in India. Scenario 3 :- Gifted by wife/spouse- sold property under her name . Want to send it to the UK. Thanks in advance.
Posted Wed, 01 Jun 2022 09:36:22 GMT by HMRC Admin 2

There are no Income Tax implications with you moving capital from one bank to another.  

However, the interest you receive from the accounts is taxable income.  

In the same instance if you are a UK resident and earning income from India, you must declare this on a Self Assessment form under foreign income.  You may be able to claim Foreign Tax Credit Relief against this to avoid double taxation. 

Thank you.

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