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Posted Sun, 12 Mar 2023 16:18:26 GMT by Javad Borhani
Dear HMRC team, I'm a skilled worker on a Tier 2 Visa, moved to the UK 9 months ago, and been on PAYE, recently I moved my money, more than 10,000 pounds from Turkey to my bank account in the UK to purchase a car and now I'm not sure If I should pay tax or notify HMRC, I'm a resident and only have BRP and the money I had in Turkey is from my old work. Regards
Posted Thu, 16 Mar 2023 15:58:15 GMT by HMRC Admin 20
Hi Javad Borhani,

You do not need to pay tax on the capital that you have transferred.
However, if this has generated any interest whilst it was in the bank then this interest will be taxable income.

Thank you.

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