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Posted Mon, 25 Mar 2024 13:40:19 GMT by joeversa
I plan to move to UK for long term living. After staying more than 183 days and become UK tax resident, I understand all the income including salary, interest and dividend earned locally or overseas needs to be reported for tax calculation. Currently, I have 3 years government bond kept in my overseas bank account. After 3 years, I will collect my principle with no capital gain when the bond mature and I plan to remit the money to UK bank account. Please let me know whether these money is subject to any UK tax implication. Any documentation is required to show the source of money. I understand the interest payment from the bond needs to be taxed after I become UK tax resident.
Posted Wed, 27 Mar 2024 12:16:44 GMT by HMRC Admin 25 Response
Hi joeversa,
Please refer to guidance at:
Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you. 

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