taxable income as a unviersity student

Hi. I arrived UK with a student visa in September 2022, and recently switched to BNO visa in February 2024. I have stayed in UK for 184 days by 5th April 2023. I will be finishing university by June 2024. May I confirm if I am a tax resident for 2022/2023 tax year? Before I arrived UK in September 2022, I had worked for 2 years as full-time worker in Hong Kong with an income below 30,000 pound yearly. I had purchased stocks and bonds in Hong Kong before coming to UK and the interest generated were less than 100 pounds. As I received salary and interest before arriving the UK, may I confirm if I am required to use arising basis to report my local and foreign income, both before and after arriving the UK? Are there any tax implication for the stocks and bonds I obtained, the interest I gained and the salary I received in Hong Kong before coming to UK? Since September 2022, my parents have been transferring money to my Hong Kong saving account which I then transfer it to my UK current account for school fee, accommodation and living expenses. No interest have been generated from the current account until part of the money has been put into a fixed rate saving and a bonus saving account in UK HSBC in February 2024. Are there any tax implication involved? May I ask if any of the above situation needs to be reported through self-assessment? If yes, is it considered as 2022/2023 or 2023/2024 tax year? Which reason (e.g. untaxed income which cannot be coded in PAYE) for tax return application should it be? Many thanks!

Hi,

HMRC cannot advise you on your residence as this is for you to determine based o nthe guidance available.

Please refer to:

RDR3 Statutory Residence Test

Also, If you qualify for split year then you only report any foreign income for the UK part of the year.

RDRM12000 - Residence: The SRT: Split year treatment

If you do not qualify then you will need to report all your foreign income to the UK.

Tax on foreign income

The guidance at RDRM12150 at GOV.UK will help you work out if split year treatment applies.

For the tax return please refer to:

Check if you need to send a Self Assessment tax return

Thank you.