Bonus

Hi I moved to the UK on 18 October 2020. I have been working remotely for a Hong Kong company, until 26 October 2021, the company transferred my post to the UK. I received a bonus on 23 Mar 2022 for the period I've worked for HK position (1 Jan 2021 to 26 Oct 2021), and part of the bonus have been withhold for Hong Kong tax clearance purposes, which have been released on 28 Apr 2022 1. How should I declare the bonus? As it is for 1 Jan 2021 to 26 Oct 2021 2. The withhold bonus released on 28 Apr 2022, is that count to next tax year?

Hi Jeff,

Your income from the date you arrived in the UK, is taxable in the UK on the arising basis.  

The bonus was paid in 22/23 tax year, so will need to be included in your 22/23 tax return as foreign employment income.
 
You can claim Foreign Tax Credit Relief for the Hong Kong tax.
 
You will need to use the official exchange rates at the time you received the bonus, which can be found at:

Exchange rates from HMRC in CSV and XML format

Thank you.