Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Wed, 28 Aug 2024 12:29:14 GMT by AprilHH
Hello - I am moving back to the UK from Spain in September. I will be transferring funds from the sale of our house in Spain as well as some savings. The money will go from our Spanish bank account to our UK bank account, It will be around 135,000 GBP. Is it taxable?
Posted Fri, 06 Sep 2024 12:51:48 GMT by HMRC Admin 20 Response
Hi,
There are no tax implications for transferring savings to a UK bank account unless they generate interest or dividends.
These would then potentially be subject to tax.
Further guidance can be found here:
Tax on savings interest
Tax on dividends
However, if you are resident in the UK, at the time you dispose of the property, you may have UK capital gains tax to pay.  
Whether a gain arises or not, the disposal must be declared an a self assessment tax return.  
Thank you.

You must be signed in to post in this forum.