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Posted Wed, 06 Nov 2024 22:54:09 GMT by Shalmoli
I became a UK resident since June 2022 and had sent a portion of my UK salary earnings abroad to my domicile country over the course of last 2 years. If I bring back the same quantity of funds from my overseas accounts now, will there be any tax implications, given I had already paid tax in UK for the said amount under PAYE? I intend to file income tax this FY on remittance basis.
Posted Tue, 12 Nov 2024 11:44:08 GMT by HMRC Admin 34 Response
Hi,
As you have paid tax on this income already, there would be no further tax on this capital. Any interet that the capital generates would be taxable and should be declared.
Thank you

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