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Posted Thu, 29 Feb 2024 16:36:05 GMT by DavidCheung89
Hi Everyone! I used BNO Visa arriving UK in October 2023 and get a temporatory job which means I am an UK Tax Resident right now. I am confused about the savings which I stll kept in Hong Kong. I would like to know and being answered about the followings: 1. I still have quantitative amount of HKD savings in Hong Kong which are the capital by solding my property on early 2022 and salaries I earned in Hong Kong in the past few years. I planned to convert them into pounds and transfer to my own UK account.Please confirm if this is not taxable except the interest generated? 2.I had already finished the process of tax clearance in Hong Kong in September 2023 . I was still in Hong Kong from 6 April 2023 to late September, Do I need to report the interest gained during this period? 3. Is there any deadline which I must transfer my savings to UK or else the amount transferred will be taxable? 4. Nowadays, my UK bank account have several sources of money inside inculding the salaries from my temporatory job in UK. Does it mean that my account will be treated as a mixed fund and make all of my money become taxable once I transfer my savings from Hong Kong to this UK account? I am just confused and hope that I can get advices for my situation. Thank you very much !
Posted Fri, 01 Mar 2024 14:34:45 GMT by HMRC Admin 25
Hi DavidCheung89,
Pease refer to guidance here:
Tax on foreign income
Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you. 
Posted Fri, 01 Mar 2024 14:53:55 GMT by DavidCheung89
I would like to know that all of my savings which I stll kept in Hong Kong and planned to transfer to my own UK account is not taxable except the interest generated after I become the UK tax resident? Thanks !
Posted Tue, 05 Mar 2024 08:50:01 GMT by HMRC Admin 8
Yes that is correct.
Thank you.
Posted Wed, 06 Mar 2024 15:51:50 GMT by DavidCheung89
Thank you very much! I have one more question to ask. Is this an appropriate approach if I report all the interest income from a joint account in my own name on my tax return form, but my family member who own the same joint account do not report it? Thanks!
Posted Fri, 08 Mar 2024 12:34:23 GMT by HMRC Admin 20
Hi DavidCheung89,
No. You only report your share of a joint account.
Thank you.

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