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Posted Sun, 05 Jan 2025 14:55:05 GMT by Snailomorphesis Lyman
I have loaned my savings to family in Hong Kong, in return I will receive a small % of interest every year. Will this money be taxable when they repay me when I deposit them at UK bank? Any limit on the amount at all?
Posted Wed, 15 Jan 2025 16:15:20 GMT by HMRC Admin 18 Response
Hi,
You need to register for Self-Assessment if your income from savings and investments is over £10,000 in the financial year.  
You can find further information here:  
Check if you need to send a Self Assessment tax return
Tax on savings interest
Thank you.

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