melly15

Hi Is this statement correct: Under the UK-India Double Tax Convention, NRE account interest taxable in the UK can receive credit not exceeding 15% for Indian tax even if this has not been paid. UK tax relief not exceeding 15% is available. So for me who will not pay any tax in the UK because The Savings Stater Rate applies. So I will receive credit for 15% of the total interest payment of my foreign savings: e.g 15% of £2000 =£300. When filing a self assessment form. Please advise Thanks

Hi, I am a UK Citizen & my UK income is only £12000. If i open a NRE bank fixed cash bond in India which the interest will be tax free. Does The Savings Starter Rate which allows individuals to earn up to £5,000 in interest on their savings without being taxed be applicable to me. I will receive the bond interest payment of £2000 at the end of a financial year & remitted to a UK bank. Or is The Savings Starter Rate not applicable on foreign savings. Do i have to file a self assessment form? Thank You