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Posted Tue, 19 Dec 2023 15:27:22 GMT by
I sold my house in March 23 and am still in the process of buying new property which should complete Jan 24. I put proceeds in a NS&I account and have profited more than £1000 in interest. I am happy to pay an tax payable but don’t know how this is calculated, when and how it is paid. Whilst waiting for new house sale to go through I applied and in December got the Spanish Nomad Visa. This means that in 183 I will be considered TAX resident there. Will this confuse matters e.g. with new Tax codes? I am aiming to rent new property and will pay TAX on this in UK and Spain unless I apply for Beckham’s law. Any insight welcome.
Posted Fri, 22 Dec 2023 15:07:43 GMT by HMRC Admin 25 Response
Hi GJGriffith,
This won't be done until after 06/04/24 when details of all income received is held.
For 23/24 tax year you will be UK tax resident and liable to UK tax laws on your income.
If you mean you are renting out a UK property, this is not covered by DTA and you would need to declare this in the UK via a tax return as you would then be classed as a non resident landlord.
Thank you. 

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