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Posted Wed, 20 Jul 2022 11:19:52 GMT by San CA
I have recently moved to the UK. I understand that previous savings (capital) can be brought into UK without any tax implication. I have a situation where I have bank deposits which will mature during the year. I understand that the income from these deposits is taxable but the initial capital itself is not. Hence I plan to open a new account with the bank and instructed the bank to move the capital to a new bank account in order to separate the interest from the capital. Will this be adequate to provide clarity to HMRC? Any other documentation needs to be maintained? I want to make sure that the required evidence is in place before I move any capital
Posted Thu, 21 Jul 2022 12:36:59 GMT by HMRC Admin 10
Hi
Yes this will be adequate.
Thankyou.
Regards.

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