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Posted Mon, 03 Jul 2023 11:26:52 GMT by
Hi, I am from Singapore, I have a UK property with a UK mortgage that is currently being let out. I wish to transfer some funds from my account in Singapore to repay my UK mortgage. Are there any UK tax implications on my plans to transfer some funds from Singapore to the UK ? Do I have to declare anything in my annual self asessment? FYI, I am a non-resident and non-domicile of the UK.
Posted Fri, 07 Jul 2023 13:06:34 GMT by HMRC Admin 20
Hi Foreign Landlord,

If the funds you transfer to the UK, arise from income or gains, from the same tax year you bring the money to the UK, then this would be taxable and
declared on a self assessment tax return, as foreign income and foreign gains.  
If the money is solely savings, then this is not taxable and nothing needs to be declared.

Thank you.
Posted Tue, 11 Jul 2023 07:46:02 GMT by
Dear HMRC Admin 20, Thank you very much for your reply. It's very clear. Best, Foreign Landlord

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