YJennings L
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RE: Have to declare and get taxed for overseas income if you don't transfer to UK?
Hi HMRC Admin 20 Thanks for your answer, I took a look at https://www.gov.uk/government/publications/remittance-basis-hs264-self-assessment-helpsheet/remittance-basis-2022-hs264#completing-the-foreign-pages I am a bit unclear after reading section 1.2 Remitted to the UK It seems to indicate if you don't remit this income to the UK ie, if you just keep it in an overseas account. It does not count as income and therefore not taxable and require declare. Is my understanding correct? -
Have to declare and get taxed for overseas income if you don't transfer to UK?
Hi HMRC I have been working overseas for the last 13 years. I will be relocating back to the UK soon with my family for 6 years afterwards my son will continue stay in the UK for university while I will then leave UK. I have some savings overseas where I receives some interest income from it. When I become a UK Tax resident during these 6 years, if I do not transfer any of this income into the UK, does it mean I do not have to declare and get taxed on this income if it is kept overseas?