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  • Moving Hong Kong savings to the UK

    Hi there, I am a non-domicile resident in the UK (22 months). I arrived in the UK on the 21st of December 2020 from Hong Kong. I had accrued savings in Hong Kong prior to my move to the UK and would like to transfer these funds to my UK bank account, for the purchase of property in the UK. Afore mentioned funds had 100% been accrued prior to UK residency approval, or my arrival to the UK. All relevant Hong Kong tax has been paid on those funds. The account that holds those funds has an almost negligible interest rate, so there has been no profit via interest on those funds. Is it safe to say that I may transfer those funds without UK tax implications?
  • Offshore Loan Tax Rules

    Hello there, I am a non-domicile resident in the UK (22 months), previously living as a permanent resident of Hong Kong (9 years). I wish to take an unconditional loan (with 0% interest) from my Hong Kong Limited Company's earned capital. I am the 100% shareholder and sole director of the Hong Kong Limited Company. The purpose of the loan will be to assist me with a deposit to purchase a personal property to live in, in the UK. What are the tax implications and proper processes that I should follow?