Thank you for your reply. In a separate thread, I was advised that no self-assessment was necessary (perhaps because I transferred this one-off income to the UK): https://community.hmrc.gov.uk/customerforums/sa/e673609b-6342-ee11-a81c-0022481a581f
Please could you advise further. Thank you.
I am a UK resident and have lived and worked here for several years. I had a fixed-term savings account in Germany which came to an end in July 2023. I made 488.03 EUR in interest, but paid 122.01 EUR tax to Germany (as an automatic deduction from interest payment), leaving me with 359.31 EUR.
I subsequently transferred all my funds to the UK, and closed my German bank accounts. Do the 359.31EUR (approx. 311GBP) count towards my personal savings allowance calculations? Since I have already paid tax on it (in Germany), I assume that it does not count towards my personal savings allowance, and I can disregard it from my personal savings allowance balance. Is this correct?
Thank you for your help.
Thanks for your reply. Combining the one-off foreign income (which I have transferred to the UK) and any UK interest I am still below my personal savings allowance. I understand I do not need to submit a self-assessment for this?
I am in the process of transferring my savings over to the UK from abroad. This includes approx 263 pounds (converted value) from dividends and 308 pounds (converted value) from interest payments in this tax year. Is this covered by the personal savings allowance, or do I need to submit a self-assessment for this?
I am a UK resident. I would like to transfer my savings from abroad to the UK. This includes small income from interest (approx 300 pounds when converted) and dividends (approx 266 pounds when converted). Is this covered by the personal allowance? Or do I need to submit a self-assessment for this?