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  • RE: Moving savings to the UK

    Dear HMRC Admin, I would like to seek your guidance on bringing past savings to the UK, i.e. savings that were earned before migrating to the UK. I migrated to the UK from Singapore and brought my past savings by remitting them into my UK bank account. These were investments that accumulated over several years and I sold them while I was in Singapore, the funds were in my Singapore bank account before I migrated to the UK. These savings did not earn any interest as Singapore has near-zero interest rates on savings accounts. Moreover, I incurred a loss due to the high amount of charges on account of pre-mature redemption, so there were no capital gains either. Based on the above scenario, I would like to know the following: 1) Are there any tax implications for bringing such savings to the UK? 2) Do I need to file tax returns to mention about bringing these savings into my bank account in the UK? Please let me know. Thanks in advance.