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I’m a UK citizen, but I’ll be living in Australia for the next few years and will be a non-resident for tax purposes in the UK.
I still have a UK bank account that accrues a small amount of interest each year - no more than £5/£6.
If I’m a non-resident for tax purposes, do I have to submit a tax return for this?
From what I’ve read on other threads, if it's under the allowance, you don't have to declare it, even for non-residents. Is this correct?
I’m a UK national. I moved to Australia with my partner in March 2022. She’s completing her PhD, and I’m on her visa. We have the visa until December 2026.
In the coming tax years, I’ll be a non-UK resident for tax purposes – spending fewer than 16 days in the UK.
I was unaware I had to submit a P85 when leaving the UK. I’m currently in the process of completing this; however, there’s a section that asks about income after leaving the UK. I still have a UK bank/savings account which earns a very small amount of interest each year – around £5.
1) I called HMRC up and spoke to a member of staff who told me that I don’t need to declare this as it’s a negligible amount. Is this correct?
2) I read on another thread that, even as a non-UK resident for tax purposes, you don’t need to declare bank interest if it falls under your allowance.
Can you confirm this please? I’m assuming £5 from a HSBC savings account falls under any such allowance?
Thanks in advance!