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Posted Wed, 29 Mar 2023 12:55:51 GMT by Dave Martin
Hi, I worked overseas for many years and have a savings plan in the Cayman Islands. I am now tax resident in the U.K. Do I have any reporting or tax obligations if I bring those savings to the U.K.? Thank you
Posted Tue, 04 Apr 2023 14:54:21 GMT by HMRC Admin 5

You need to report any interest received from the savings as foreign income.

Once you transfer the funds, you do not need to declare the capital but again, any interest that this then generates is taxable income.

Thank you.

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