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Posted Tue, 20 Feb 2024 13:38:03 GMT by
I will be no longer staying in the UK very soon after a termination of an employment in an UK company, and thus will become a non-UK resident after Mar 2024. However, I am expecting to receive a fixed-term deposit saving interest paid by a UK bank during the time falls under tax year 2025/2026 , while the interest received will be less than £10,000. And that would be the TOTAL amount I will be receiving as income from the UK, while I will be aboard. Please confirm if the below action is correct or not. - As per SAIM1170 advice, if one is not a resident in the UK, then UK bank's interest and dividends interest are considered 'disregarded income'. So, I do not have to file or report any interest income arising from this fixed-term deposit, right? - And that means the interest income from that deposit account is not taxable and thus no tax has to be paid?
Posted Wed, 21 Feb 2024 12:01:55 GMT by HMRC Admin 25 Response
Hi ukkim,
HMRC cannot comment on future events as legislation and/or plans may change.
Thank you. 

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