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Posted Sat, 11 Feb 2023 01:28:31 GMT by Sori_Eminia
Hi, I'm a US citizen but count as a UK resident because I spend most of the year in the UK. I am a PAYE employee in the UK and am taxed at the source for this income, with some amount automatically deducted into my workplace pension scheme. I'm a basic rate tax-payer (my net annual income is £38,000). I have 2 savings accounts in the US which accrue interest. In the 2022-2023 tax year, I expect I'll get a total of ~$800 (£670) in interest on those savings accounts. I do not transfer any money from my US accounts to my UK accounts. I get a grand total of £3 in interest from my UK savings account annually. I am not part of any US pension schemes. I was wondering whether I'll need to file a self assessment tax return for the current tax year? I know there's a Personal Savings Allowance of £1,000, but I'm not sure if that's applicable in the case of foreign-earned interest? If anyone could let me know whether I'll need to file (or can recommend a tax advisor who has experience with immigrants and overseas accounts), I'd greatly appreciate it! Thank you!
Posted Wed, 15 Feb 2023 11:44:44 GMT by HMRC Admin 19
Hi,

You do not meet the criteria for completing a Self Assessment return.

If your circumstances change you can to see the following guidance to see if you need to fill in a tax return:

Self Assessment tax returns

Thank you

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