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Posted Fri, 25 Nov 2022 18:25:21 GMT by al1918 YU
Hi, My company relocate me from HK office to UK office, I enter UK end of July. 1. I just receive my July salary, which is borne by my HK employment, as I finally finish tax clearance process with HK tax regulator. 2. I was told that the year-end bonus (if any) payment will be spilt accordance the time spend between HK and UK, and HK office will withhold the HK bonus until I finish tax clearance process. 3. I plan to liquidate my HK employee pension fund (MPF) All the above 3 incomes are going to my HK bank account. The account is receiving monthly saving interests. Is my understanding correct that should I wish to transfer money from this account into UK, the only tax I have to pay is tax on interests? Thank you.
Posted Tue, 29 Nov 2022 11:23:25 GMT by HMRC Admin 19
Hi,

As the July salary was for work actually carried out in the UK, it is taxable in the UK and this will apply to the bonus too.

Your Hong Kong pension is not taxable in the UK.

You will need to declare any foreign interest that you receive.

You will not be taxed on any capital that you transfer but you will need to declare any interest that this generates.

Thank you.

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