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Posted Fri, 19 Jan 2024 11:15:53 GMT by
I was retired from work in September 2020 in Hong Kong. On the 9th March 2023, I arrived in the UK with my BNO VISA. Before that, I was a "permanent Resident of Hong Kong" and didn't live in the UK. During the the period of 9th March to 5 April 2023, I received a sum of interest (GBP 650 plus HK$ 293) from the banks in Hong Kong. This is the only income I received in this period. My question is : (1) Should I submit the "Self Assessment (2022/2023)" for the bank interest (GBP 650 plus HK$ 293) received during the period of 9th March to 5 April 2023? (2) If I need to submit my ""Self Assessment (2022/2023)", should I include the income earned/received before 9th March 2023?
Posted Mon, 22 Jan 2024 15:44:48 GMT by HMRC Admin 5
Hi

Your interest arising in the 22/23 tax year would not be taxable in the UK, as you were not resident long enought in that tax year.  Article 11 of the UK / Hong Kong tax treaty advises that an individual, who is resident in the UK and receiving interest arising in Hong Kong, is taxable only in the UK. Please see:
2010 Hong Kong-UK DTA.  Any interest arising in the current tax year, should be declared in a self assessment tax return.

Thank you

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