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Posted Thu, 13 Jul 2023 22:03:35 GMT by
Hi there, I moved to the UAE on the 9th July 2023. Meaning I have spent 94 days so far in the UK for this tax year and plan to only visit the UK for 2 more additional days in the same tax year. I am looking to send some of my first paycheck from my UAE company to my UK bank account to pay off an outstanding debt in the UK and clear the debt amount. More information: I will be renting out my jointly owned house (jointly owned with my wife) whilst living abroad and this will commence from the 1st August 2023. I have already registered and submitted for a Non-Residental Landlord Application. The question I had was: Will I get taxed on the money I send to my UK bank account in the next few weeks? I was trying to understand and do the Statutory Residence Test (SRT) to see if this money is exempt from UK tax but could not find a confirmed answer. I would really appreciate any advice you can give. Please can you assist. Thanks, Jad
Posted Tue, 18 Jul 2023 08:22:30 GMT by
Slightly different take on this... I've been offered a full time role in Dubai. However, my partner needs to stay in the UK, so part of my Dubai salary would be needed to cover the mortgage here. Would I have to pay income tax on the whole amount of my Dubai salary, or just on the part sent home to cover the mortgage?
Posted Wed, 19 Jul 2023 09:18:07 GMT by HMRC Admin 8 Response
Hi,
The transfer of money from an overseas bank account to a UK bank account has no income tax implications.
However, any interest or dividends generated may be taxable:
Tax on savings interest and
Tax on dividends 
Thank you
 
Posted Mon, 24 Jul 2023 13:41:54 GMT by HMRC Admin 19 Response
Hi Ted Edmondson,

If you are not working and resident in the UK during this period you would not pay UK tax on the income.

Thank you.
Posted Wed, 09 Aug 2023 02:38:44 GMT by
Hi, I'm a British Citizen non resident for tax purposes living and working in Singapore. I plan to relocate back to UK in summer 2024. I have some savings from my salary in Singapore that has been taxed here. I understand I can bring it to the UK without incurring income tax on it. Is there any time limit on this? E.g. can I repatriate the funds two years after I relocate back to UK?
Posted Tue, 15 Aug 2023 12:04:37 GMT by HMRC Admin 32 Response
Hi,

Yes, you can bring it anytime. If any interest is earned on the income whilst it is still in Singapore, you need to declare this as foreign income.

Tax on foreign income

Thank you.
Posted Mon, 21 Aug 2023 16:41:18 GMT by
I am a Hong Konger, Ihave applied the BNO 5+1 visa last year. This year I settled in UK. I want to transfer all my money from Taiwan to Uinted Kingdom. These are the money I accumulated in my life. Do I need to pay any tax?
Posted Mon, 21 Aug 2023 16:58:01 GMT by
I am a Hong Konger and have applied the BNO 5+1 visa. I got the visa on November 2022, Then I went to United Kingdom on December 2022 for 10 days. Then I went to Poland and service as a volunteer to help the Ukraine people. I just got back to UK in August 2023. Now I want to settle in UK and want to tranfer my savings from Hong Kong and Taiwan to UK. The savings have pay tax in Hong Kong and Taiwan. Do I need to pay any tax for my savings?
Posted Thu, 24 Aug 2023 14:55:40 GMT by HMRC Admin 25 Response
Hi tze kuen au,
Please refer to:
Remittance basis 2023 (HS264)
Tax on foreign income
Thank you, 
 
Posted Thu, 24 Aug 2023 16:03:04 GMT by
Dear HMRC, Actually after I read through the "Remittance basis 2023", I did not find any answer. I did not know whether I need to pay tax for the saving I plan to bring into UK. I am not a British Citizen and a non-domicile resident here as I have stated that I have applied the BNO visa 5+1 and have stayed in UK for less than a month (10 days in 2022 and went abroad, then I returned to UK in August 2023, I have stayed here for about 10 days up till now, and I plan to stay here for the next couple of years). Therefore am I a domicile resident here this year? And do I need to pay the tax for the saving ( I have already pay tax in Hong Kong and Taiwan)I plan to bring into UK?
Posted Wed, 30 Aug 2023 16:47:35 GMT by HMRC Admin 20 Response
Hi tze kuen au,

The transfer of your savings from your overseas bank account to a UK bank account would have no income tax implications.
However, any interest or dividends generated may be taxable.                          
Tax on savings interest                                   
Tax on dividends

Thank you.
 
Posted Thu, 31 Aug 2023 07:50:29 GMT by
Hi. I want to transfer my savings around £30,000 would it be taxable ? Can I use money gram , wise or Remitly to avoid bank exchange rates or do I have to do it from my banking savings accounts to my UKsavings account ? Also my mom is selling her apartment and gifting the value of the property to me do I have to pay tax on it?
Posted Thu, 31 Aug 2023 08:00:07 GMT by HMRC Admin 18 Response
Hi,

As long as your savings are not derived from income arising while resident in the UK, there will be no tax to pay on the transfer into the UK.  

We cannot advise on the method of bringing the money into the UK using an electronic c.  If the money is brought in in a cash currencey (bank notes) there are limits to be aware of:

 Take cash in and out of the UK

If your parent is not resident in the UK and sells a non UK property, they may be taxable on this in the country in question.  You will not pay and UK tax on a cash gift.

Thank you.
Posted Thu, 31 Aug 2023 23:02:43 GMT by
I have some asset back in my home country, I am a british citizen working and paying tax as required, so If I sell my asset and want to bring in about 100k in uk, how can I do so and do I need to pay tax on that 100k? If yes, how much?
Posted Sun, 03 Sep 2023 19:45:10 GMT by
Hi HMRC, A little bit of a different topic. I am a UK citizen, if I were to move abroad to work for less than 5 yrs and come back to purchase a property with the savings from the job, will I have to pay tax on the savings from salary income?
Posted Tue, 05 Sep 2023 15:57:35 GMT by HMRC Admin 10 Response
Hi Shamiha Ahmed
If you sell the item and make a gain, you need to report it in the UK :
Capital Gains Tax: what you pay it on, rates and allowances
Posted Wed, 06 Sep 2023 11:59:57 GMT by HMRC Admin 19 Response
Hi ZCBEELI,

You would only pay tax on any interest, and, or dividends that the savings then generate when you are back in the UK#.

Thank you
Posted Fri, 08 Sep 2023 08:51:25 GMT by
Dear HMRC, I am a foreigner who previously worked in the UK on a tier 2 visa on an assignment for a few years and claimed remittance basis during that time. Whatever UK income I received during that time, I paid UK tax on it, and brought it back home with me at the end of my assignment. Now I am moving to the UK again on a tier 2 visa, but this time I intend to sell my properties in my home country, and bring the proceeds with me to the UK to purchase properties there, with the view of permanently settling in the UK. What would be the tax implications of my planned move? Thank you in advance.
Posted Sun, 10 Sep 2023 23:28:53 GMT by
Hi, I got a job in the UK as Lecturer and I got a global talent visa. I will be travelling with my wife. This will be our first entrance to the UK under this visa. We would like to transfer our savings and the money we get after selling my car from Turkey to the UK with us which will be around £50K ish. Can we carry this amount with us while we enter the UK? If so, I assume we need to declare this and when we do, will there be any tax implications? We will need this money to settle down in the UK, buy a new car and may be for down payment for house buy. What should we do because £10K limit will be very difficult for us to establish a life in the UK. Thank you
Posted Mon, 18 Sep 2023 11:09:28 GMT by HMRC Admin 10 Response
Hi Miranda Lim
If you sell the overseas property before you move to the UK, any gains from the sale will not be taxable in the UK.  
If you dispose of the property after you arrive in the UK, then you may be subject to capital gains tax in the UK, depending on your residence status and if a gain arises.  
Income that was taxed in the UK and moved to an overseas bank account is classed as capital when returning it to the UK, so will not be subject to further tax.
Have a look at the guidance for residence, domicile and remittance at
Residence, domicile and the remittance basis: RDR1
and the statutory residence tests at
RDR3 Statutory Residence Test
There is also a tool to help you with this.  
It can be found at (Tax on foreign income).
 These will help you make an informed decision on your residence status, for the tax year in which you move to the UK.

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