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Posted Mon, 27 Nov 2023 22:43:50 GMT by Parth Vashishtha
Hi, I am a UK resident on a tier 2 skilled visa since late January 2021. Before moving to UK, I had my savings in India, I needed some funds to support my mortgage payment in UK so I transferred from my Indian bank savings. As I do not earn any income in India and only used my previously earned saving which I earned becoming UK resident, will that be ok as per UK tax rules? I understand I have earned some interest on my saving in India but I paid tax on them in India and also I am not planning to bring any interest earned to UK yet. Kindly assist me with clarification.
Posted Wed, 29 Nov 2023 15:21:59 GMT by HMRC Admin 20
Hi Parth Vashishtha,
Please refer to the following guidance:- Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you.

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