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  • Taxation Inquiries : Seeking Clarifications

    Hello ! I have something about taxes would like to ask. I arrived in the UK in November 2023 and started working in December, but my payslip shows that I have not been subject to income tax. The company says this is because my income before April 2024 has not exceeded the income tax threshold for that tax year. Do I need to report my income for the period from December 2023 to March 2024 to HMRC? Thank You !
  • Taxation Inquiries : Seeking Clarifications and Guidance about Transferring Savings from Abroad

    Dear HMRC officer, Greetings. I arrived in the UK in November 2023 on a BNO visa and am currently doing part time job. I have several tax-related questions: 1. If I transfer savings from before I became a UK tax resident to my UK bank account, do I need to pay tax on the principal amount transferred, in addition to the interest earned on those savings? (I do not use the remittance basis.) 2. If I transfer savings from before becoming a UK tax resident to the UK and use them for a bank fixed term deposit, besides the interest or dividend income generated by this money, will I be subject to any other taxes? 3. I arrived in the UK in November 2023 and started working in December, but my payslip shows that I have not been subject to income tax. The company says this is because my income before April 2024 has not exceeded the income tax threshold for that tax year. Do I need to report my income for the period from December 2023 to March 2024 to HMRC? 4. I have consulted with various accountants about tax issues, only to realize later that they were not qualified tax advisors. Where can I find qualified tax advisors? Thank you. Thank you very much!
  • RE: Sending money from abroad saving account to UK

    Thank you very much! I have one more question to ask. Is this an appropriate approach if I report all the interest income from a joint account in my own name on my tax return form, but my family member who own the same joint account do not report it? Thanks!
  • RE: BNO

    Hi! I would like to know if I still keep an quantitative amount of HKD in my Hong Kong saving account which was my capital from past few years. I plan to transfer to my UK account. Please confirm if this is not taxable except the interest generated? Thank you!
  • RE: Sending money from abroad saving account to UK

    I would like to know that all of my savings which I stll kept in Hong Kong and planned to transfer to my own UK account is not taxable except the interest generated after I become the UK tax resident? Thanks !
  • Sending money from Hong Kong saving account to UK

    Hi Everyone! I used BNO Visa arriving UK in October 2023 and get a temporatory job which means I am an UK Tax Resident right now. I am confused about the savings which I stll kept in Hong Kong. I would like to know and being answered about the followings: 1. I still have quantitative amount of HKD savings in Hong Kong which are the capital by solding my property on early 2022 and salaries I earned in Hong Kong in the past few years. I planned to convert them into pounds and transfer to my own UK account.Please confirm if this is not taxable except the interest generated? 2.I had already finished the process of tax clearance in Hong Kong in September 2023 . I was still in Hong Kong from 6 April 2023 to late September, Do I need to report the interest gained during this period? 3. Is there any deadline which I must transfer my savings to UK or else the amount transferred will be taxable? 4. Nowadays, my UK bank account have several sources of money inside inculding the salaries from my temporatory job in UK. Does it mean that my account will be treated as a mixed fund and make all of my money become taxable once I transfer my savings from Hong Kong to this UK account? I am just confused and hope that I can get advices for my situation. Thank you very much !
  • Sending money from abroad saving account to UK

    Hi Everyone! I used BNO Visa arriving UK in October 2023 and get a temporatory job which means I am an UK Tax Resident right now. I am confused about the savings which I stll kept in Hong Kong. I would like to know and being answered about the followings: 1. I still have quantitative amount of HKD savings in Hong Kong which are the capital by solding my property on early 2022 and salaries I earned in Hong Kong in the past few years. I planned to convert them into pounds and transfer to my own UK account.Please confirm if this is not taxable except the interest generated? 2.I had already finished the process of tax clearance in Hong Kong in September 2023 . I was still in Hong Kong from 6 April 2023 to late September, Do I need to report the interest gained during this period? 3. Is there any deadline which I must transfer my savings to UK or else the amount transferred will be taxable? 4. Nowadays, my UK bank account have several sources of money inside inculding the salaries from my temporatory job in UK. Does it mean that my account will be treated as a mixed fund and make all of my money become taxable once I transfer my savings from Hong Kong to this UK account? I am just confused and hope that I can get advices for my situation. Thank you very much !