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Posted Fri, 17 Mar 2023 06:14:01 GMT by wkat831
Hi I left the UK in 2008 to help to look after my elderly parents in Japan. For your information, I was a tax paying resident in the UK prior to that time and during the last 15 years, I spent up to 4 months in the UK for any tax year. The matter in Japan has now settled, and I’m returning to the UK for good this summer. I have a saving of roughly £100,000 including inheritance and I would like to transfer the money to my UK bank account, What is a tax implication regarding this transfer? Do I need to pay any tax on it? I would be most grateful for any advice. Many thanks
Posted Mon, 20 Mar 2023 15:37:00 GMT by HMRC Admin 17

Income and gains arising outside the UK, in tax years you were not resident in the UK, are not taxable in the UK. 

Savings are not taxable in the UK. 

Any money inherited from the disposal of an asset could be subject to UK tax, if you are resident in the UK at the time of the disposal.

Thank you.

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