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Posted Fri, 27 Sep 2024 16:22:10 GMT by Fiona Docherty
Hi - we are moving back permanently to the UK after 12 years in Australia. We have sold our main residence whilst still in Australia (August 2024) and want to transfer the proceeds along with savings to the UK (in September 2024). Am I correct in understanding that there are no tax implications on the transfer of these funds. But that we will need to pay tax on any interest from our savings once we are resident in the UK? Grateful for your advice. Fiona
Posted Thu, 03 Oct 2024 14:40:39 GMT by HMRC Admin 19 Response
Hi,
There are no Income Tax implications for transferring these funds 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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