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Posted 3 months ago by Vanesa Raposo Gimenez
Hello, In 2024 I transferred most of my savings from Spain to my UK Bank account (for context, I have been living and working in the UK for more than 20 years). These savings were a mix of savings, inheritance and sale proceeds of a flat I had in Spain. I paid the relevant taxes in Spain (inheritance and capital gains) so I wanted to check whether I need to declare anything in the UK (self assesment return) or even pay any taxes here in the UK (I doubt it as it would be double taxed). Thanks Regards
Posted 3 months ago by HMRC Admin 20 Response
Hi,
There is no limit to the amount of money you can transfer from an overseas bank account to a UK bank account. 
If any of the money transferred is from income or capital gains arising in the tax year it is transferred, then that income and capital gains is taxable and
should be reported on a Self Assessment tax return.   
Tax when you sell property
Thank you.

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