Interest earned on UK savings, Skilled Worker Visa, double taxation agreement

Good day, I am in the UK on a Skilled Worker Visa. Due to my foreign employer (located in the UK) and the double taxation agreement between the UK and that foreign country, I pay: - taxes in the foreign country - National Insurance in the UK. I have a current account and a savings account in the UK. The savings account led to interest earnings of GBP 3.00 (three pounds in 2022-23) and GBP 45.00 (forty-five pounds in 2023-34). I had not thought about that when opening the account, I just wanted to have a place to put my saved money for a better overview over and management of my finances. Do I need to report these interest earnings to HMRC? Thank you for your assistance.

Hi,

If you are in the UK then the employer you refer to is not a foreign employer and you will be seen as UK resident. The interest earned is taxable income but is covered by the personal savings allowance so no tax will be due on the interest.

Thank you.