Arising Tax Basis & Transfer of Capital

Dear Sir I am a UK citizen but non-UK domiciled and have been a non-UK tax resident for the past 28 years. I am planning to return to the UK this summer to take up employment and I have the following question: If I decide to take the arising tax approach to pay for my forthcoming income tax obligations in the UK (I understand that this means all global income will be subject to UK tax), will I incur any tax on the capital that I intend to bring with me back to the UK (i.e. cash I have accumulated from my previous employment in Hong Kong)? Thank you.

Hi,

There are no tax implications on capital already received during a period of non residence. You are only subject to UK tax on any foreign income arising after you enter the UK. You can see further guidance here:

Tax on foreign income

Thank you.