PSHK Sullivan
Joined: 9/29/2024
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Non UK Resident - Tax liability on Interest from National Savings and Investments
As a Non UK Resident, I understand that Interest on NS&I savings is treated as Disregarded Income, in which case the tax charge is restricted to the amount of tax, if any, deducted at source. If the tax charge is limited in this way, then no personal allowances will be given against any Other income. NS&I pay Interest Gross and do NOT deduct any tax. If the "only" Income generated in the UK as a NON Resident, is the interest received from the NS&I savings interest...(1) Does this mean there is then NO TAX LIABILITY on the NS&I Savings interest earnt? (2) if so, is there any need to submit a Tax return to HMRC? Appreciate confirmation... Thanks in advance.