Gains from Hong Kong MPF

Hi, I have a Mandatory Provident Fund account in Hong Kong. The MPF contributions from my past employment have been invested by account trustee and have obtained some gains during the tax year 2023-2024. The gains are kept in my account and cannot be withdrawn before my retirement. Do I need to report the gains to HMRC? If so, how to do. I would like to know if the gains are considered as part of my pension. In UK/Hong Kong Double Taxation Agreement, are the gains non-taxable in the UK? Thank you for kind attention.

Hi,

The MPF fund is not taxable in the UK.

Thank you.

Hi, Does it mean that non-taxable fund is no need to report to HMRC ? Thank you.

Hi,

For the MPF fund, no, you do not need to report it to HMRC.

Thank you.

Hi, I know that I don’t need to report my MPF fund to HMRC. Therefore, I didn’t report after I withdrew the MPF fund in 2022. However, I just received a certificate of tax position to be completed and returned to HMRC. Should I reply the answer No.4 (I have not declared my overseas income and/or gains as they are not liable to UK tax)?

Hi mariachan

Yes, that is correct.

Thank you
 

May I know any follow up action is to taken after you have completed and returned the certificate of tax position to HMRC? @ HMRC admin. To avoid the issue of certificate of tax position by HMRC, shall I declare in self assessment that I have taken benefits from pension scheme not subject to tax in UK due to DTA?

Personal email removed .

Hi,
If the income is exempt under the terms of the DTA then you do not declare it, but make reference to it in the comments section of the return.
Thank you.