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Posted Mon, 28 Oct 2024 19:24:02 GMT by DavidL
If I earn interest on overseas bank deposits but cannot transfer any money out of the country the bank is situated in, is there anyway UK tax can be deferred until the money is repatriated to the UK.
Posted Mon, 04 Nov 2024 14:07:20 GMT by HMRC Admin 17 Response

Hi ,
 
Please have a look at the guidance on remittance at RDR1 :

Residence, domicile and the remittance basis: RDR1  . 

Please note that if  you were born in the UK and you are resident in the UK, the remittance basis cannot apply
and you pay tax on the income in the tax year it arises, whether remitted to the UK or not.

Thank you 

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