HC

Hi HMRC Admin Team, Please advise. Thanks. Best regards, 

Name removed 

Hi Team, Hope you are well. Please clarify if I need to pay the remittance basis charge in the FY 2022-23 when I become long term resident in the UK after completing seven years in the UK. I claimed remittance basis for foreign interest income earned in India for the first six years in the UK from FY 2026-17 to FY 2021-22 as I was non-domiciled in the UK. However, I have paid tax for foreign interest income earned in India for the tax year ending FY 2022-23 on an arising basis in the seventh tax year. My understanding is that I don't need to pay remittance basis charge as I have paid foreign interest income tax for the FY 2022-23 on an arising basis. Kindly confirm. Best regards, Harjeet

Dear HMRC Admin team,  Hope you are well. Please can you advise on whether I have to pay tax on overseas interest income earned in India, which has not been repatriated to the UK.  I have been staying in the UK, since August 2016 (seven years) on visa (Tier 2 ICT, Student, Skilled Worker).  I have earned interest income overseas in India and as per my understanding from the UK gov website, no tax is payable on foreign income for fifteen years if the permanent home is overseas. I was born in India and hold an Indian passport. My father is an Indian resident and stays /owns a house in India. The annual interest income earned in India ranges from GBP 50 to GBP 2200 from FY 2016-22 and GBP 800 in FY-2022-23. Kindly confirm if this is the correct understanding that no tax has to be paid on the interest income from the year FY 2016-23. Alternatively, please advise if any tax has to be paid and is that tax due to be paid for any overseas interest income above the GBP 2000 threshold. Thanks. Best regards, Harjeet