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Posted Thu, 24 Aug 2023 14:43:05 GMT by
i have a fixed deposit of GBP100k jointly held 50:50 with my brother in a UK Bank. I live in Hong Kong and not a UK tax resident. My brother who lives in UK and is a UK tax resident, Is my share of 50% bank interest income arising from the UK Bank subject to UK tax/ is there any withholding tax on my share of interest income in UK? Also, do i need to submit self assessment to HMRC?
Posted Wed, 30 Aug 2023 15:48:56 GMT by HMRC Admin 20 Response
Hi Kar Man Kwan,

Yes the income is liable to income tax as it is taxable income and you may not be entitled to personal allowances.
Further guidance is at Tax on your UK income if you live abroad

Thank you.

 

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