Thank you for your reply, I have a few additional questions.
So I would only declare income that falls under these points in a self-assessment ?
* have other income that you do not bring to the UK
* bring it to the UK and spend it on things other than living costs and course fees
Additionally, as I am non domiciled is there somewhere I have to declare I’m choosing to pay tax on the arising basis and not the remittance basis?
I am an international student with no UK income. My country’s double taxation treaty with the UK means that as a student I will not be taxed on foreign income used for the education/living costs.
I am going to receive about £3000 in interest from peer-to-peer lending overseas and plan to remit this (along with the principal) to the UK for investment purposes. From the information I have gathered I would have to submit a self assessment to inform HMRC of this income but I would not pay anything on it as it falls within my personal allowance, is this correct?
Additionally, would I also have to report the other bank interest that has been used for my education and is therefore not taxable (under the double taxation agreement)?