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Posted Fri, 04 Feb 2022 15:22:10 GMT by San CA
Hello, I am currently a non resident and I will be moving permenantly to the UK in May / June. I have never been a tax resident in the UK I have 2 queries: 1.I currently have my savings in the current country of residence and I will move all of it to UK when I moved my residence. If I move it to UK in June when I move, will it be taxed in UK? All this amount is my savings from my salary in the previous years until June 2022. 2. I expect a delay in the payment of my end of service gratuity. I will re-locate to UK in June and will travel back to my current country of residence later in the year to complete the end fo service process and collect my gratuity. In this case the gratuity will be paid to me AFTER I have already moved to the UK. The gratuity is paid towards my end of service benefit for my employment prior to moving to the UK but the payout may happen after I have already moved to the UK. This also means I will be transferring the amount (approx GBP100,000) a few months after I have become a tax resident in the UK. Will this amount be liable to income tax in the UK? Thanks
Posted Mon, 07 Feb 2022 12:11:33 GMT by HMRC Admin 17

Hi,
 
As a UK resdident you will be required to declare all your worldwide income to the UK.

There will be no tax liability on the savings already held but if after you become UK resident and
this money generates interest in either a UK or foreing account then this would need to be reported for income tax purposes.

If the gratuity payment is made while you are a UK tax resident then this would generally be taxable in the UK unless
there is a specific double taxation agreement to exempt this:

Tax treaties   .

Thank you.

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