Abhi Patel
-
RE: Possible tax to Inbound Oversees Bank transfer to UK Resident(non-domiciled)
Thanks for the reply! A bit confusing as it can be a liquidated amount out of property/land sell. Isn't it kind of Capital Gain type of tax? Do I need to declare that in the assessment form at the time of transfer? -
Possible tax to Inbound Oversees Bank transfer to UK Resident(non-domiciled)
I am a UK Resident(non-domiciled), has transferred my UK Savings(£15K) out of income to India for property investment purpose as I my visa was supposed to expire beginning of this Year. Cut to now, given the fact that I am on a new skilled worker visa, and planning to buy a home here, and wanted to use that amount as a deposit. Do I need to pay any tax on that 15K, as it was already been taxed here as part of PAYE, before transferring to India. If there any declaration I need to make, how can I do that?