Gaurav

Hello HMRC - I have another question on NRE interest income in UK tax return. You mentioned that "The 10 year relief period would commence from the tax year the account was first created.". My current NRE account is more than 10 years old. Does this mean that if I open a new NRE account now, the countdown of 10 year would start on the new account from this year and therefore, any income in it would be eligible for 15% tax relief?

Hi HMRC, I have a question on declaration of NRE interest rate. Is the tax spare provided from the date of first account opening or first deduction made from tax? The double taxation treaty says "10 fiscal years after the deduction in computing taxable income or exemption from, or reduction of, Indian tax is first granted to the resident of the United Kingdom or to the resident of India, as the case may be, in respect of that source." I haven't claimed 15% tax spare previously, based on the above if I claim it on 2022-23 tax return, will the 10 year countdown start from 2022-23?