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Posted Tue, 11 Jan 2022 10:22:10 GMT by C_James_9
I am an Indian Citizen and was resident in India (for tax purposes) for the year 2020/21. I was made redundant in October 2020 and received my severance package minus income taxes as deducted at source. Thereafter I moved to the UK with my family in April 2021 and have since begun employment here. For the year 2021/22 and for tax purposes, I know that I will be considered as 'UK resident' but having my 'domicile' as India. My query is related to funds that I have had to transfer/remit to my UK account from India, to support our move to the UK. I have already paid income tax (in India) on this income in the year 2020/21. Given that this amount would now be considered as savings - Can I record the amount that I have transferred (in £) to my UK account and claim Foreign Tax Credit Relief in the Self Assessment sheet on this? Appreciate any feedback/guidance for the above query.
Posted Wed, 12 Jan 2022 14:03:58 GMT by HMRC Admin 17

You will be expected to declare your worldwide income to the UK from the date you became resident here.

The capital amount you bring into UK will not need to be reported for income tax purposes but any
interest the capital generates in the Indian bank will be under foreign interest.

Thank you.

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