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Posted Fri, 08 Mar 2024 15:59:46 GMT by Gamer
Hi, I am a BNO visa holder and has lived in the UK for two years. In this taxation year, I had worked as full time in the UK for few months and also earned some interests from fixed term savings accounts in both UK and overseas banks. For my wages, the taxes was automatically deducted every month. However, do I need to report my interests earned from my bank accounts as listed below? If yes, could you please let me know how can I report them? (1) Interests earned from my ISA accounts in the UK (2) Interests earned from fixed term savings accounts in the UK (3) Interests earned from fixed term savings accounts in overseas banks Thank you very much.
Posted Tue, 12 Mar 2024 08:52:43 GMT by HMRC Admin 8 Response
Hi,
As you are in receipt of interest from overseas bank accounts, you should register for self assessment and complete returns for the appropriate tax years:
Tax on foreign income                                                          
When completing your returns, you should include details of  both your overseas interest and  the interest from your UK fixed term savings accounts. Interest from ISAs is exempt from tax, and does not have to be declared.
Thank you.
Posted Thu, 03 Oct 2024 16:58:14 GMT by Raven888
Hi, Thanks Gamer for your question and HMRC Admin for your feedback. If I need to report bank interests, is it via 'Tell us about other income' links? https://www.tax.service.gov.uk/digital-forms/form/tell-us-about-other-income/draft/guide
If yes and in the page of 'missing income', what would be the category to choose? e.g. Other Income (earned), Other Earnings or else?
Thanks in advance.
Posted Fri, 11 Oct 2024 11:32:21 GMT by HMRC Admin 13 Response
Hi Raven888
For previous tax year where a tax return is not issued, you can use the world-wide disclosure facility at Tell HMRC about underpaid tax from previous years
For tax years where a tax return has been issued, you need to submit the tax return.
Thank you.

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