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Posted Tue, 09 Jan 2024 23:06:54 GMT by
Hello I am filling up my self assessment as a domiciled tax resident. I received some interest payment from my savings in some of the Government saving schemes in Bangladesh. Due to the nature of the savings, the interest is not remittable outside Bangladesh but the principal amount is. In other words, I can only bring the principal amount to UK, but not the interest. In this scenario, can I claim the interest amount as unremittable income in my self-assessment? If so, do I need to provide any kind of document/evidence in this regard? Appreciate any response on this. Reference: https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim1150
Posted Tue, 16 Jan 2024 11:24:27 GMT by HMRC Admin 19 Response
Hi,

You can see guidance here:

Paying tax on the remittance basis (Self Assessment helpsheet HS264)

Thank you.
Posted Wed, 24 Jan 2024 02:09:41 GMT by
Hello! My question is specific to Unremittable Income, which is different than the remittance basis. As I said, I am domiciled in UK, so I believe the remittance basis is not applicable for me. The interest i got paid on some of my savings in Bangladesh cannot be remitted outside the country. But the original savings (ie the principal amount) can be remitted. So my question is, can I claim the interest income as Unremittable, since I can't bring it into UK? This is a very peculiar scenario and I couldn't find any specific resource other than the reference [1]. I'd appreciate more clear explanation on this. Thanks Reference: [1] HMRC Internal Manuals: https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim1150
Posted Fri, 26 Jan 2024 14:33:24 GMT by HMRC Admin 25 Response
Hi asp,
You would need to provide evidence to support this, since the income is all in the one account.
Thank you. 

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