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HMRC Admin 17 Response

HMRC Admin 17 Response

Joined: 1/20/2021

  • Re: Money transfer

    Tue, 30 Mar 2021 08:55:16 GMT – Money transfer


    Hi 

    KS 144,

     
    You would not need to provide any evidence for this money being capital.

    For the year of entry to the UK you will need to determine your residency status.

    If you are deemed UK tax residence then you would need to declare all your worldwide income for the year.

    However if you are UK resident, then you may qualify for split year which would mean you only declare income from the date you enter the UK.

    Further guidance on both of these can be found here :

    RDR3 Statutory Residence Test .

    Thank you.

  • Re: Money transfer

    Wed, 24 Mar 2021 10:54:40 GMT – Money transfer

    Hi

    Kuni, 
     
    We do not deal with visa's and immigration on this forum. 

    You will need to contact the Home Office for information regarding this.

    If you become UK tax resident then any overseas bank interest may be subject to UK income tax, regardless of visa type. 

    Thank you.

  • Re: Money Transfer

    Mon, 15 Mar 2021 13:39:32 GMT – Money transfer

    Hi, 
     
    Yes,  you will not be charged  income tax on transferring your capital to  another account .

    Thank You.