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tax on foriegn savings

mahesh angadi
Posted Sat, 13 Jan 2024 23:43:20 GMT by mahesh angadi
Hi, I am a citizen of India and domeciled from India. I become UK tax resident from Apr-2023. My question is related to savings accumulated in India ( from employment) before I becoming UK tax resident. I would like to transfer my indian savings to UK. How to declare it to HMRC so that i do not have to pay tax on it in UK? Regards, Mahesh
HMRC Admin 21
Posted Wed, 17 Jan 2024 11:14:36 GMT by HMRC Admin 21
Hi Mahesh,
You will not pay tax on the transfer of the capital. you only need to declare any interest or dividends that this then generates.
Thank you.

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