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Posted Wed, 04 Oct 2023 08:58:03 GMT by Bo Keung Michael Ho
Hi HMRC admin, I arrived in Scotland on 20th December, 2022. Do not have a job, only have Bank Accounts Aboard which generated Interest. (should be less than £800) I think this will belong to my foreign income (only income). There is 106 days in total from arriving UK to 5th of April, 2023. Do I need to register for a self assessment for 2022/2023? Thank you. Kind regards, MH
Posted Mon, 09 Oct 2023 12:14:13 GMT by HMRC Admin 32

Yes, you will need to register for self assessment, as you are in receipt of overseas income, regardless of how little it may be. Interest from overseas bank accounts, is taxed in the same way as UK interest.  

Please have a look at the guidance below and take the residency tests.

RDR3 Statutory Residence Test

This will help you determine whether all of the interst is taxable or just the proportion arising from when you came to the UK, to the end of the tax year.

Thank you.

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