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Posted Tue, 26 Sep 2023 17:49:11 GMT by
Hi, I have some savings in my home country before moving to the UK 20+ years ago. The savings are earned from work I did in my home country before moving to the UK. The sum is under £100k. The money kept in a bank account in my home country. How do I transfer this to my bank account in the UK and will I have any reporting or tax obligations if I bring those savings to the UK? Note: I am currently working in the UK. Many thanks
Posted Wed, 04 Oct 2023 05:44:11 GMT by HMRC Admin 25 Response
Hi jlam32,
As UK tax resident, any interest that these savings have generated should be reported in the UK.
There will be no tax due on the actual capital that you transfer but again, any interest needs to be declared as this is taxable income.
Thank you. 

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