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Posted Sat, 22 Jun 2024 12:39:04 GMT by angelac
Hi, I am a UK taxpayer now. I have a saving in overseas bank for some years. The money has been kept in that account before I moved to UK. I would like to transfer the overseas money to UK bank. Do I need to report it to HMRC? Is the money taxable? Thank you!
Posted Wed, 26 Jun 2024 14:08:49 GMT by HMRC Admin 5 Response
Hi 

For capital and interest accruing when you were not UK, there would be no tax liability for transferring to the UK.  
Only interest arising from the capital in the tax years you were resident in the UK, would be taxable.  This interest should be shown in a self assessment tax return.

Thank you
 

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