tmcrs123

Hi, I'm sorry if this has been asked/answered previously but I couldn't find any post that answers my question. I have savings belonging to me in Portugal which I intend to transfer to my bank account in the UK. These savings are proceedings from the time I lived/worked in Portugal and have been taxed accordingly there. I am a Portuguese citizen but have the UK Settled Status. I can see that similar questions have been posted before and the HMRC answer is: "There are no tax implications for transferring savings to a UK bank account unless they generate interest or dividends." My question relates to the "unless they generate interest or dividends" part of the answer. Unless they generate interest or dividends where? In the country of origin? Or in the UK? If the funds generate interest in the UK, I'd imagine they will be covered by the personal savings allowance and I won't need to pay tax on them. However, if the we are talking about the country of origin, this is a different scenario. These funds are kept in a savings account which generates interest but this is taxed automatically by my bank in Portugal. Taking all of this into account, If I transfer these funds to the UK do I need to pay tax on them? We are talking about £17000 roughly. Thank you in advance, Kind Regards