Nick Buck

Thank you, that’s very useful. I am led to believe I report this income under “ Interest and other income from overseas savings”? Is that correct? I presume our social security payments go into the box that says exactly that?! Thanks again,

I am a UK resident tax payer. I am shortly going to start withdrawing amounts from my US based 401K account. Thsi will be periodic payments and thus I understand that tax will be due here on those amounts and I will declare it as foreign income and pay as required. The 401K provider will have to withhold an additional 30% of anything I withdraw as is required by the IRS. As a non-resident of the US I can then claim that 30% back annually with a 1040NR tax filing sent ot the IRS. I then intend to transfer that tax refeund back to my UK based bank account My question is whether UK tax will be payable on the tax refund amount when I transfer it to the UK? ie - is the tax refund from the IRS also treated as taxable income by HMRC here in the UK? Thank you for your help.